Citing a turbulent market, few tech companies offered sales forecasts, and most of those that did revised figures downward.

Though the hardware sector is expected to take the brunt of the global economic downturn for IT, software is not being spared. SAP said Wednesday it will cut about 3,000 workers this year, even though it reported one of the strongest fourth quarters in the tech sector, with net income rising 13 percent to €850 million (US$1.13 billion). Even so, SAP declined to issue earnings guidance for this year.

"Since September we have been talking about a new reality in the world's economy," said co-CEO Léo Apotheker during an earnings call.

Middleware vendor Citrix on Wednesday said it would reduce headcount by approximately 10 percent. Fourth-quarter profit dipped to US$60.1 million, compared with $62.3 million a year earlier.

IBM, one of the few vendors to issue a relatively upbeat forecast last week, this week ended up confirming reports of layoffs. IBM didn't specify numbers, but the company cut 1,419 positions in software and 1,449 sales and distribution jobs, according to union sources.