It's an alarming fact for the companies considering lay offs that more than half of employees, who lose their jobs, steal the confidential company data. The fact was revealed by a study released on Monday. 

Conducted jointly by researchers from Symantec, the computer security firm and the Ponemon Institute, a privacy and information management research firm, the study found that 59 percent of the surveyed ex-employees admitted that they stole the confidential company data including confidential customer information, such as contact lists, from the companies, after they lost their jobs.

The researchers conducted their web-based survey in January 2009. They surveyed almost 1,000 U. S. workers who had lost their jobs within the past 13 months. The researches found that about sixty percent of the surveyed people admitted to taking confidential company information with them, and 61 percent of respondents said that they had an unfavorable view of their former employer.

The survey revealed that the most common records lifted were e-mail lists, employee records, customer information and non-financial data. It found that several data theft incidents could be warded off, if the companies were equipped with better data loss prevention policies and technologies. It disclosed that 24 percent of respondents accepted that they had access to the company's computer network, even after they left the company.

According to the study, 53 percent stole the date downloading the info onto a CD or DVD, while 42 percent stole data on a USB drive, and 38 percent pilfered data via attachments to a personal e-mail account.

In a statement, chairman and founder of the Ponemon Institute, Larry Ponemon said, "I don't think these people see themselves as being thieves or as stealing. They feel they have a right to the information because they created it or it is useful to them and not useful to the employer."

Larry Ponemon said, "The survey's findings should sound the alarm across all industries: Your sensitive data is walking out the door with your employees. Even if layoffs are not imminent, companies need to be more aware of who has access to sensitive business information. Our research suggests that a great deal of data loss is preventable through the use of clear policies, better communication with employees and adequate controls on data access."

Senior director of product management for data loss prevention solutions at Symantec, Rob Greer said, "Companies need to implement data loss prevention technologies so they know exactly where sensitive data resides, how it is being used, and prevent it from being copied, downloaded or sent outside the company."