10/27/2020

News

Paramount Cuts 110 Jobs

“Paramount Pictures announced layoffs on Tuesday as part of the studio’s effort to cut costs.

The Hollywood studio, owned by Viacom Inc. of New York, notified employees that 110 staffers will be cut from departments including finance, human resources, IT, legal and marketing.”

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Google Buys More Buildings in Silicon Valley

Google (GOOG) over the last few weeks has struck deals to rent or buy more than 1 million square feet of offices in Santa Clara County, including the purchase of several Mountain View buildings in recent days, extending a stunning expansion by the Internet giant.

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US Porn Industry Shutdown Blamed for Skewing Disappointing Jobs Data

According to Labour Department figures released on Friday, the number of people with jobs fell by 112,000 in August. The data do not go into detail about why specific industries suffered, but it is thought that a temporary hiatus in the pornography industry had a significant impact on the figures. The adult film business was brought to a standstill for 12 days in August, after one of its actors was found to have HIV. The jobs data do not drill down into such specific industries, but the wider movie business lost 22,000 paid jobs – around 6pc of its total workforce.

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Amazon Leasing Surges in Bay Area

Amazon.com Inc. is pushing ahead with a San Francisco expansion that will grow its footprint in the city to nearly 150,000 square feet.

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Local Layoffs to Follow Sale of Intuit Unit

Company: IntuitCA Net Job Gain/Loss: -65Reason: LayoffCity/Region Losing Jobs: Los Angeles, CA

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Permanent Home for Silicon Valley Patent Office Put on Hold

The move to find a permanent home for the Silicon Valley branch of the U.S. Patent and Trademark Office has been put on indefinite hold.

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Silicon Valley Salaries Leading the Nation Yet Again

Workers in Santa Clara and San Mateo counties are again among the highest-paid employees in the nation. A new report out from the Bureau of Labor Statistics estimates the average worker in San Mateo County earned $3,240 per week—more than three times the national average, and $1,100 more per week than the average worker in Manhattan.

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How Facebook Single-Handedly Made Silicon Valley Richer Than Manhattan

The average weekly wage in San Mateo County California, the home of Silicon Valley behemoths like Facebook, increased 107.3 percent in the last quarter of 2012, making it the richest place in America — even ahead of Manhattan — all because of a little IPO that happened in May 2012. Here’s how the thinking goes: Facebook went public in May 2012. In November — 181 days after the offering — those with vested stock options could cash in. Sure, CEO Mark Zuckerberg promised not do that. But if Peter Thiel, one of the earliest and biggest investors in the social network took out something like $1 billion, you can bet some less famous names did as well. In that quarter alone, the roughly 6,200 tech workers in the area collected total wages of $6.8 billion, notes the Wall Street Journal’s Scott Thurm. “That kind of a jump can only be explained by what’s happening with stock” Doug Henton, chief executive of Collaborative Economics told Thurm. Some of that likely also came from other tech IPOs that year, but Facebook’s was by far the largest.

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A savior for Silicon Valley’s patent office? New D.C. bill introduced

We told you earlier this month that Silicon Valley’s long-sought regional patent office is facing an indefinite delay. Now, the region’s congressional delegation has introduced a measure to get the project back on track.

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How Silicon Valley’s Tech Reign Will End

Why is Silicon Valley in Silicon Valley? “You’ve got Stanford, you’ve got federal expenditures, and you’ve got an ecosystem” of start-up mentors and established institutions, said Bruce Katz, the founding director of the Brookings Metropolitan Policy Program. But Silicon Valley’s stranglehold on West Coast innovation is in danger, he said at the Aspen Ideas Festival on Friday. The main problem?

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Yahoo Plans to Add 100 Jobs to Nebraska Office

Company: Yahoo Inc.CA Net Job Gain/Loss: -100Reason: Invest Elsewhere, Out of StateCity/Region Losing Jobs: Sunnyvale, CACity/Region Gaining Jobs: Nebraska

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Another Public Company, Daegis, Moving to Texas

Daegis Inc., the Roseville-based information management and eDiscovery company, said it in its fiscal year-end financial release that it will move its headquarters to Texas to “optimize its cost structure.” It is the second publicly traded local company in recent years to move to Texas.

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Tech Slowdown in San Francisco; Yahoo, Microsoft Scale Back Space Requirements

After a two-year office space binge, San Francisco tech tenants seem to be taking a bit of a breather.

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Symantec to Lay Off 1,700

Company: SymantecCA Net Job Gain/Loss: Impact UnknownReason: LayoffCity/Region Losing Jobs: Mountain View, CANotes: Job losses not broken down by location

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Symantec Hit with Layoffs, Part of ‘Companywide Transformation’

MOUNTAIN VIEW — In its continuing drive to cut costs and streamline operations, security software giant Symantec confirmed Thursday that it will be cutting jobs.

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