January 20th, 2009 by Reed Allmand 
Nortel Networks has filed for bankruptcy and is expected to experience massive job losses as it "undertakes a comprehensive business and financial restructuring." As the recession wave hits the technology sector, behemoth technology firms are now next in line to face bankruptcy. First it was the real estate foreclosures, then the banks faced bankruptcy, and the automakers teetered on the edge of complete collapse, now it seems that certain companies in the technology industry are set to be culled by bankruptcy and shrinking profits. Analysts are looking at Intel, Nvidia and Motorola as possible victims of bankruptcy and/or job losses as credit markets and consumer spending, on not just a national level; but an international level contract drastically.
Motorola has already announced another 4,000 job losses and that’s in addition to the 3,000 job losses they experienced last quarter. Many had hoped that the technology sector would be insulated form heavy damage as other sectors experienced bankruptcy and job losses; but it appears that was wishful thinking at best. The real fallout in the technology sector may actually come AFTER Google, Microsoft, AMD and Apple release their earning reports next week which many fear will be worst than expected.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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