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Brocade Gets $4M To Stay in San Jose, But I Smell a Fish

December 22, 2008

Tweet Chris O’Brien, in a Mercury News’ business article yesterday wrote that the city council approved a $4M expenditure on Tuesday to finance equipment purchases for Brocade (BRCD: 10.13 -0.10%) as an incentive for the company to keep its headquarters in the city. This is very odd to begin with since Brocade has already acquired […]

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Unemployment Rate Update

December 19, 2008

Tweet November 2008 unemployment numbers reveal a 20 basis point increase from the previous month in California, when unemployment numbers registered in at 6.5%. The national rate hovers right around 6.7-6.8%, seasonally adjusted. Locally, the unemployment figure in Santa Clara county according to the EDD is 7.1%. In San Mateo county, the number is a […]

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Avaya Brings Online 140,000 Square Feet of R&D and Office Space For Sublease in Milpitas

December 11, 2008

Tweet Avaya has put up for sublease approximately 140,000 square feet of office and R&D space in Milpitas. The 140,000 square feet is spread across two buildings, is Plug N’ Play with furniture, and has an asking rent of $1.25 NNN. The sublease runs through March 2012. The buildings are directly across from Cisco’s 410,000 […]

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Yahoo Layoffs Begin; Estimated 1500 To Lose Jobs This Round

December 10, 2008

Tweet Sunnyvale-based Yahoo (YHOO: 39.05 +1.03%) began its latest round of layoffs today. The estimate is that 1,500 employees will be laid off worldwide in this latest round. Both analysts covering Yahoo! as well as friends working for the company estimate that there are still several thousand more employees within the company whose jobs could be […]

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Google Puts An Additional 128,000 Square Feet Up For Sublease In Mountain View

December 10, 2008

Tweet Google (GOOG: 581.13 -1.06%) has put on the market an additional 128,000 square feet for sublease in Mountain View. The 3-building campus is located at 2375 Garcia Avenue, 2350 Bayshore Highway, and 1500 Salado Drive. Unlike much of Google’s other real estate, and similar to 395 Page Mill Road (which Google put up for […]

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Sony, Novellus Announce Layoffs

December 9, 2008

Tweet Sony (SNE: 17.37 +0.06%) announced that it will make significant cuts in its workforce and expansion plans. The company announced it will be laying off about 8,000 employees, closing two plants, and outsourcing more work. The company will also layoff about 8,000 temporary workers. San Jose-based Novellus (NVLS: 0.00 N/A) also announced layoffs. The […]

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RREEF Updates Economic Forecast Map

December 8, 2008

Tweet RREEF has updated its economic forecast map for North America. The map is a quick guide which provides very high-level economic data for markets throughout the United States and Canada.

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533K Layoffs Nationwide in November; California, Silicon Valley Unemployment Rate Update

December 5, 2008

Tweet In numbers released by the Labor Department today, the month of November saw employers slash some 533,000 jobs, the most in 34 years. The number came in over 200,000 higher than the 320,000 economists were forecasting. The national unemployment rate currently stands at 6.8%. With GM, Chrysler, and Ford all strapped for cash, the […]

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Adobe to Cut 600; Yahoo Layoffs Next Week

December 4, 2008

Tweet Adobe announced that it will be laying off 600 employees, or about 8 percent of its workforce. The San Jose company indicated that the job cuts will be across the board, and are attributable to a slowdown in the economy and lower than expected sales of its Creative Suite 4 product. Yahoo is set […]

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Nortel Announces Plans to Terminate 1300 Jobs

November 10, 2008

Tweet Nortel Networks (NT: 0.00 N/A) announced its plans to terminate some 1300 jobs through next year. Nortel’s stock has dropped over 90% over the past year. This most recent quarter saw them taking significant amounts of write-offs and forecasting slower growth and lower profit. Norton has a presence in Santa Clara at 4655 Great […]

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