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Surprise: San Francisco Office Rents Are Falling

April 8, 2009

Tweet Bloomberg has a hit piece out on San Francisco office landlords, in which it cites Colliers International’s numbers: Q1 2009 office rents in the “city” dropped 24%, year-over-year Class A rents fell from $50.92 to $38.80 psf/year Office vacancy rose to 13.2 percent from 12.6 percent in the previous quarter, and up from 10.2% […]

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KLA-Tencor Announces Layoffs; 10% of Workforce

March 30, 2009

Tweet Milpitas-based KLA-Tencor (KLAC: 77.15 +0.96%) announced today that it is laying off 10% of its workforce, or about 600 employees. The company currently owns or leases over a million square feet of facilities in Milpitas, San Jose, and Santa Clara, with a majority of that owned. In addition to the job cuts, the company […]

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Agilent To Cut Another 2700 Jobs

March 27, 2009

Tweet Santa Clara-based Agilent Technologies (A: 58.07 +1.59%) announced today that it is making yet another round of cuts. It will be cutting 2700 jobs, which is about 14% of its workforce. The group where the cuts will be made has seen a reported 30% drop in business. In a statement, the CEO also indicated […]

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Google, IBM Cut Jobs; Legal Cuts Continue

March 26, 2009

Tweet The past few weeks have been fairly quiet on the layoff front, but IBM (IBM: 191.56 -0.38%) and Google (GOOG: 577.33 +1.00%) came out today with news that they’ll be making some cuts. Google announced a small cut of 200, while IBM announced that it will be eliminating 5,000 US positions. I suspect that […]

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Weekend Roundup

March 15, 2009

Tweet Los Angeles’ Largest Private Landowner Might Have to File For Bankruptcy Protection [Link] According to the WSJ,¬†Meruelo Maddux Properties is contemplating a bankruptcy filing to help it cope with its debt load. The developer has played a part in a large part of Downtown LA’s revitalization but it has now stopped making interest payments […]

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Cisco Begins “Layoffs” At San Jose Campus

February 28, 2009

Tweet Cisco cut 250 from its San Jose campus as it begins the layoffs it announced a few weeks ago. The cuts were referred to as a “realignment”, but they are clearly layoffs. What’s more is that Cisco in the past down cycle made progressive amounts of cuts as its revenue declined. With GDP during […]

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JPMorgan To Cut 12,000 From Washington Mutual

February 28, 2009

Tweet JPMorgan Chase announced that it will be cutting some 12,000 positions from its newly acquired Washington Mutual Banking unit. In addition, the bank indicated that it will be cutting a further 2,000 investment banking jobs. The good news is the bank is profitable. Something which isn’t all that surprising considering the fact that the […]

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Nortel Cuts 3200 More; Santa Clara Vacancy At Risk

February 25, 2009

Tweet Nortel Networks (NT: 0.00 N/A), which filed for bankruptcy protection last month,¬†announced today that it will be cutting an additional 3200 jobs (worldwide). The company has a significant presence in Santa Clara and depending on the gravity of the situation, a Nortel bankruptcy has the potential to deliver some 1M square feet of office […]

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San Francisco Chronicle To Be Sold or Shut Down

February 25, 2009

Tweet The Hearst Corporation has indicated that it will take immediate steps to reduce expenses over the next few weeks. If those efforts prove to be ineffective, the parent of the San Francisco Chronicle has indicated that it will then take steps to sell or shut down Northern California’s most widely circulated newspaper. What is […]

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GM To Cut 47,000 Jobs; Chrysler 3,000

February 17, 2009

Tweet GM and Chrysler have come crawling back looking for handouts and as part of their restructuring plan, GM has disclosed that it has plans to cut some 47,000 jobs worldwide and Chrysler 3,000 as they fight to survive. Here are some articles on this from Bloomberg, New York Times, and the Washington Post.

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