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According to outplacement firm Challenger, Gray, and Christmas (CGC), 8,789 employees of Internet companies lost their jobs during November. That's a whopping 55 percent higher than in October. Since December 1999, when CGC started tracking dot-com layoffs, 383 dot-coms have let go over 30,000 workers, including 12,551 positions from dot-com service firms, 7,863 employees in ecommerce positions, and 2,505 workers in the online health and fitness industry. CGC's John Challenger explains that the high number of lay-offs in the services industry happened because dot-coms expected businesses and consumers to "change their habits" more rapidly than they actually did, which led to an "over-supply" of these kinds of companies. Challenger also predicted that dot-com layoffs would continue over the next months, as ecommerce companies begin to feel a cash drought during the after-the-holiday lull.
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