IT budgets frozen by recession, survey shows

The recent economic crisis has many IT leaders tightening their belts and preparing for sparse spending in the coming months. A September survey of some 50 CIOs by an association for IT executives showed that more than half of those polled have put nonessential projects on hold and about one-fourth have decided to freeze IT hiring. And 61% of those surveyed admitted they were reevaluating their 2009 budgets.