I was at a dotcom that busted (after going public). Developers were laid off left and right. But the internet economy hadnt taken hold yet and the tech companies were mainly still old school shrink wrapped software.

i started my own company at that time and there were a ton of developers desperate for work.

Because of the huge internet companies that are voraciously hiring and that have huge warchests, I think it will be different next time around.

I can see IT at non tech companies getting laid off and having trouble finding work.