IT sector takes responsibility for tackling recession

UK businesses in the IT sector are attempting to reduce the impact of recession through pay freezes and reduced payouts to shareholders, according to the Chartered Management Institute (CMI).

But almost a third of firms in the IT sector are considering merging with competitors to help them ride out the economic storm.

A survey of technology businesses in the UK revealed that some were taking responsibility and reducing payments to investors.

"Employers accept some responsibility for tackling the recession, with many respondents focusing on reducing payouts so that funds are available to ease cashflow," said the CMI.

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-Ken