By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
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.
According to the survey, 31% of firms in the IT sector are considering reducing dividends for stakeholders. A total of 38% are also looking at holding back pay rises for 12 months.
CMI revealed that 34% of IT businesses have diversified into new marketsto becomeless reliant on certain markets.