11/23/2020

News

5 Ways Silicon Valley’s Middle Class Could Be Saved

Though the region’s $94,572 median income is about 43 percent higher than the typical U.S. household, that eye-popping figure is skewed by a widening gap between high and low earners.

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Silicon Valley Labor Groups Target Tech “Segregation” in Push to Raise Wages

A new report by San Jose labor think tank Working Partnerships USA highlights an “invisible workforce” of janitors, landscapers and security guards keeping companies like Google Inc., Apple Inc. and Facebook Inc. up and running.

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Cisco Plans 6,000 Layoffs in Restructuring Plan

A spokeswoman declined to disclose how many layoffs would occur in Silicon Valley. Cisco, which is San Jose’s biggest employer, has been steadily selling off office buildings and land holdings over the last couple of years as it has shrunk headcount.

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Silicon Valley Real Wages Outstrip Next Best Market by $10k–Despite Sky-High Housing Costs

A new analysis of federal data by the Atlantic CityLab and Arizona State University found that workers in the San Jose metro area bring home real average wages — or the money left over after factoring in costs of living — of $75,288 per year. That compares to $64,321 in Stamford, Connecticut, $60,562 in San Francisco and wages in the $55,000-range in affluent sections of Maryland, North Carolina and Texas.

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Silicon Valley’s New “Middle Class” Makes $94,000, Home Costs $484,000

An analysis released this week by real estate site Trulia defines “middle class” in the San Jose metro area as a household earning $94,077 annually — more than double the median income in Miami and $10,000 higher than the San Francisco metro area.

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Globo to Move Headquarters to Silicon Valley from Greece in Bid for US Market (and Better Weather)

Globo, a Greek company that makes enterprise mobility products, is reversing the normal migration pattern of Silicon Valley technology companies.

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Tesla to Open 431,000 sq ft Facility in Central Valley

Palo Alto-based Tesla is opening a new 431,000-square-foot facility in the San Joaquin County city of Lathrop.

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Home Depot Looking to Hire 80,000

The Home Depot Inc. says it’s preparing to hire 80,000 workers as it prepares for spring, the company’s busiest selling season . . . The do-it-yourself giant’s hiring website currently lists 16,928 open positions nationwide, including 232 openings for part-time workers in California, 178 in Texas, 100 in New York,

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Split California into Six States? VC Draper Plans Ballot Initiative

Venture capitalist-scion Tim Draper, whose investment wins include Skype and Overture, says he plans a ballot initiative to split California into six states.

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Arrayit Doubles Size in Sunnyvale

Growing life-sciences technology company Arrayit is roughly doubling its footprint, moving south of Highway 101 as the company expands its product and service offerings dramatically.

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Hot Spots for Startups Rely on Spinoffs from Existing Companies

Existing companies, not research universities or entrepreneurship programs, are the most fertile source of startup businesses in most metropolitan areas. That’s a key takeaway from a new study conducted by the Kauffman Foundation, which also found that most areas with higher-than-average startup activity have been strong entrepreneurial centers for at least 20 years.

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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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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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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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Drugmaker Impax Kills 110 Jobs, Mostly in Hayward

Company: Impax LaboratoriesCA Net Job Gain/Loss: -110Reason: LayoffCity/Region Losing Jobs: Hayward, CA

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