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Silicon Valley Takes it on the Nose

|Includes: AABA, EBAY, GOOG, HPQ, Sun Microsystems Inc. (JAVA)

 After losing 200,000 jobs after the dot com bust, Silicon Valley could get hurt even worse this time. Hewlett Packard (NYSE:HPQ) has already announced 24,000 layoffs, Sun Microsystems (JAVA) 6,000, and Ebay (NASDAQ:EBAY) and Yahoo (YHOO) 1,000 each. Google (NASDAQ:GOOG) is rumored to be readying the axe for 3,000.  In the past, new start ups absorbed a lot of these. That won’t happen this time because of the complete vaporization of the venture capital market.