More than 40% of large businesses have cut their IT budgets this
year due to the global economic slowdown, according to research
from analyst
Forrester.
The research was based on a survey of almost 1,000 IT managers
across North America and Europe.
The survey found that 43% of firms have already cut their
overall IT budgets in 2008 in reaction to the slowdown in the
global economy, while 24% have put discretionary spending on
hold.
Only 28% of respondents said the economy has had no impact on
their IT budgets.
IT departments in the financial services industry were hit
hardest, with 49% of IT shops in the financial services sector
having seen a cut in budgets.
IT departments in North America have been impacted by the
economy more than their counterparts in Europe. The survey found
that 49% of North American firms have cut their IT budgets,
compared with 31% of respondents in Europe.
"This is not an across-the-board spending slowdown the
impact of the economy on IT budgets varies widely by industry
and geography," said Forrester Research analyst John McCarthy.
Dell recently blamed a profits drop on a slowdown in IT
spending.