November 10, 2009
Reports are circling around the web that San Jose-based Adobe (ADBE: 68.04 -0.70%) is having layoffs today. Some (unconfirmed) reports put the number at up to 15% of staff (this likely includes contractors).
We will be hearing of deals getting done over the next few quarters, some fairly big, but the thing to keep in mind is whether the demand and deals represent positive absorption. Deals getting done are a natural part of any cycle, but it is positive absorption that will constitute the true strength of the recovery. With fairly significant scale layoffs still taking place, positive absorption should remain lax, but the positive spin is that valley companies will be lean and leasing will pick up faster than most anticipate once we’re out of the woods.
- Silicon Valley Office Space Continues to Get Cheaper
- Layoffs Back: Verizon 13K, Sam’s Club 11K
- Google, IBM Cut Jobs; Legal Cuts Continue
- With Office Market Softening, Some Landlords Mull Reducing Asking Rents
- Q3 Manhattan Rents Drop 5%