Is 2009 = 2001?

I just saw this blog entry from Om Malik himself about,
Cisco Layoffs In The Offing?
& wondering whether 2009 is going to be 2001 again for tech?

Cisco was first to see the tech recession back in dot com crash and did the layoff of 8500 people.

As the next one is around the corner, i was wondering for some time about how Cisco will react to it ... Then here comes the rumor of Cisco layoff!

This year is election year and won't expect a full blown recession like 2000. But comes 2009, are we going to see the 2001 again?