Hewlett Packard Reducing Real Estate Footprint by 25% in Cupertino and Palo Alto
Market Data, Notable Deals March 19th, 2008As part of their cost cutting plan, Hewlett Packard is reducing its footprint in Cupertino and Palo Alto by approximately 25%. In addition, HP has in the recent past been divesting some assets it owned in the South Bay cities of Cupertino and Mountain View.
The plan is to more efficiently use space and is not a result of layoffs. HP has bounced back in recent years under the leadership of Mark Hurd, who made it part of his plan to reduce real estate costs.
Tags: Commercial Real Estate, Cupertino, Hewlett Packard, Office Space, Palo Alto
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March 19th, 2008 at 9:00 pm
I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin
March 19th, 2008 at 11:56 pm
I must say, as a longtime HP employee, this is good news because we have a lot of buildings that are pretty crappy.
I was hoping that since the resurgence of HP we’d be able to get some more buildings which show off the company but guess not for now.