4 out of 10 CEO’s agree….more layoffs to come

Bay Area layoffs in the year ahead will increase. Four out of 10 CEO’s surveyed by the Bay Area Council say they plan to trim staff and technology companies in Silicon Valley are not immune.

Silicon Valley joins retailers and many other businesses in an economic downturn that shows no signs of a turnaround. However, the picture isn’t dire… yet.

“Most of the layoffs planned are between the one and 10 percent range. That’s a lot less than we saw in the dot-com bust,” said John Grubb, from the Bay Area Council. (ABC)