Monday, December 22, 2008

Silicon Valley Christmas shut-down

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Amidst a recession Silicon Valley shut-down for Christmas ... See full story by By Richard Waters and Chris Nuttall in San Francisco Published: December 21 2008 19:02 | Last updated: December 21 2008 19:02 Workers at some of Silicon Valley’s biggest companies will find themselves spending an uncommonly long time with their families this Christmas as the technology industry responds to the downturn with office and factory closures and enforced holidays. Usually limited to traditional manufacturing industries such as the ailing carmakers, the year-end shut-down is this year sweeping through the office suites and research and development labs of information-age companies. EDITOR’S CHOICE Apple has winning touch in festive sales - Dec-21 Equipment makers edge towards the end of the line - Dec-21 Video: Tales from Christmas markets - Dec-21 Hewlett-Packard, Cisco Systems, Advanced Micro Devices, Texas Instruments, Dell, Adobe and CSC are among the tech industry heavyweights to be taking a break, with some closed from December 22 until January 5. HP said: “The only workers left to keep the lights on will be those involved in “critical customer support”. The shut-down has been forced by belt-tightening across the sector as corporate and individual customers cut back on spending. The wider cost-cutting has hit even Google, the latest emblem of Silicon Valley prosperity. The internet seach engine has trimmed spending on its famed perks with steps such as cutting the number of restaurants on its campus open in the evening. In spite of the enforced leisure, workers will be hit directly by the closures, with most required to use up part of their holiday entitlement or, if they do not have the days to spare, take unpaid leave. Given that many US workers receive only 10 days of vacation a year, the effect will be biggest there, although most of the companies to close say they will be halting operations worldwide. HP said six days of its two-week shutdown would count against workers’ annual vacation entitlement, while technology services company CSC said employees would be docked seven days’ holiday. One Valley executive said: “Man, is it ugly out there”. He said the pain had spread from the wider economy in recent weeks. “It was nice to see record earnings for high-tech companies in the first three quarters during a so-called recession, and then the wheels fell off in October.” Chip companies and other component makers have taken the brunt of the initial downturn in tech demand, as makers of hardware such as computers and routers have reduced orders in anticipation of deeper problems next year. The iSuppli research company warned last week that excess semiconductor stockpiles in the global electronics supply chain were likely to nearly triple in the fourth quarter. Advanced Micro Devices, the microprocessor maker based in Silicon Valley, said its workforce had been told to take five days’ mandatory vacation in the fourth quarter. Elsewhere, Texas Instruments is temporarily closing many of its factories to run down its inventories. With its manufacturing operation running at only about 45 per cent of capacity, the Dallas-based company says such levels had not been seen since the second half of 2001. Copyright The Financial Times Limited 2008

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... are bracing to stay within their budgets — especially when it comes to Christmas ... The recent Tech Awards showcased technology and Silicon Valley at its best.
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Home - SiliconValley.com
... will no longer have its featured showman or company at the party. GMSV: Like Christmas ... computer chip companies finding new ways to produce and conserve power, three Silicon Valley ...
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FT Alphaville » Blog Archive » Christmas shut-down in Silicon ...
Some of Silicon Valley’s biggest companies are responding to the economic downturn with office and factory closures and enforced holidays over the Christmas period.
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Cisco adds holiday shutdown to cost-saving measures - Silicon Valley ...
This is the first shutdown of this type in more than a decade, though Cisco did shut down between Christmas and New Year’s in the past, like many Silicon Valley tech businesses.
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Silicon Valley | Calais for Drupal
Spam dropped two-thirds in November after Silicon Valley-based McColo, a major spam network, was shut down. ... Christmas; control systems; FireEye; Graham Cluley; Internet service ...
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Christmas shut-down in Silicon Valley
Workers at some of Silicon Valley’s biggest companies will find themselves spending an uncommonly long time with their families this Christmas as the technology industry responds to the downturn with office and factory closures and enforced ...
more ...
go to website
Source: Financial Times
NewsDateTime: 11 hours ago

This year, holiday slowdown is a bit too close to 'shutdown'
... people who are stuck at work during the molasses-slow week between Christmas and ... In Silicon Valley, where business is usually slow this time of year, the practice of ... Systems, which sells networking technology, recently announced it would shut down ...
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Source: Herald Tribune
NewsDateTime: 12/13/2008

Business Tech
... group has found more ways to bond since the news of their store getting shut down ... within different (consumer electronics) segments through the Christmas holidays ... that has saddened friends, colleagues, and family members, and left Silicon Valley ...
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Source: CNET News
NewsDateTime: 12/16/2008

Digital Media
... of customers receive the products that they have ordered on time this Christmas ... teen girl social-networking site, which launched in February 2007, will shut down ... hired Yahoo search executive Sean Suchter to be general manager of its Silicon Valley ...
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Source: CNET News
NewsDateTime: 12/14/2008

Empty Lots: Car Dealers Continue to Suffer
In Silicon Valley, there are far too many US dealerships to support present and future ... employees and keep them from not going to other companies when they shut down ... So GM and Chrysler are turning directly to the government in hopes of a Christmas ...
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Source: Wall Street Journal
NewsDateTime: 12/14/2008


Chip companies and other component makers have taken the brunt of the initial downturn in tech demand, as makers of hardware such as computers and routers have reduced orders in anticipation of deeper problems next year.


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