Is Recent Employment News
Affecting Real Estate in The Bay Area?

 

Tech Layoffs Continue to Reverberate Throughout the Bay Area1

The Peninsula and San Francisco are experiencing several layoffs in the tech sector. Many of these layoffs have been well-publicized, but many have flown under the radar.
Combined with slower than expected economic growth and impending interest rate hikes, many real estate buyers seem to be moving.

Tech layoffs more than double in Bay Area

In yet another sign of a slowdown in the booming Bay Area economy, tech layoffs more than doubled in the first four months of this year compared to the same period last year.

Yahoo’s 279 workers let go this year contributed to the 3,135 tech jobs lost in the four-county region of Santa Clara, San Mateo, Alameda and San Francisco counties from January through April, as did the 50 workers axed at Toshiba America in Livermore and the 71 at Autodesk in San Francisco. In the first four months of last year, just 1,515 Bay Area tech workers were laid off, according to mandatory filings under California’s WARN Act. For that period in 2014, the region’s tech layoffs numbered 1,330.

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TESTIMONIALVILLE – May 2016

 

Dear Dino,

Many thanks for all you’ve done in such a short time. Couldn’t have done it without you. It’s such a pleasure to partner with you. You rock!

– Mrs. and Mr. B.


Another corporate exodus from the Bay Area

4San Francisco-based makeup and skincare company Bare Escentuals is moving its headquarters to New York.
The company said in a statement that the relocation was part of an effort to reposition the brand in order to “unlock performance” and “strengthen … the business over the long term.”

 

 

 


 As Bay Area startups cut costs, perks are on the chopping block3

Perks like free gourmet meals, maid service and on-site workout classes once served as a recruiting tool at hot tech startups competing to lure the best talent.

But as venture-backed startups tighten their belts, those perks are now looking more and more like a liability rather than an asset.

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