“Businesses in San Francisco have been hit hard by the global economic malaise, with new figures showing Bay Area business optimism has sunk to new lows and more than one-third of companies in The City expect to shed staff [but 18% to add] before June.”
In San Mateo, 48% of the firms surveyed by the Bay Area Council expect to cut jobs in the next six months, while 14% expect to add.
And in terms of when a recovery will begin, 59% of those surveyed in San Francisco are currently forecasting in one to two years, with 73% of those in San Mateo responding the same.
∙ Bay Area businesses reeling from global downturn [San Francisco Examiner]
∙ Once Again, It’s Just Getting Starting (And It’s Going To Last Longer) [SocketSite]