We view these announcements as typical and necessary for technology companies. Tech companies of all sizes are forced to innovate or fail, as timely product R&D, product updates and similar advancements are necessary to survive. When innovation fails, companies are quickly forced into a restructuring mode, and layoffs are a common result. Our expectation is that a relatively small number of tech companies will be in a restructuring mode nearly all the time.Despite the concerns noted above, current trends support continued job growth in technology. In Silicon Valley, for example, year-over-year job growth accelerated from 2.9% in 2011 to 3.8% in June 2012, with no slowdown in Q2. And the labor force grew by over 2.5%.
Essex Property Trust Management Discusses Q2 2012 Results - Earnings Call Transcript
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