Survey says: IT spending is getting trimmed

Big technology companies are seeing their customers in the financial services sector pull back on existing and new Information Technology projects, according to recent data issued by Forrester Research. Forrester polled almost 950 high-ranking technology managers at large businesses in North America and Europe, and found that more than 40% of the companies have cut back their technology spending. More businesses in the United States have cut their spending than anywhere else, and financial services firms have been the most aggressive in trimming their technology purchases, according to the findings.