Bay Area corporations plan to intensify job cuts in the next six months, according to the grim results of a new survey.
The quarterly Bay Area Business Confidence survey found that 42 percent of company executives in the region intend to undertake layoffs during the upcoming half year period. That's up from 40 percent of executives that planned layoffs in a survey three months ago.
"The economy is definitely weak," said Michael Wilson, chief executive of Oakland-based Rockridge Partners, which provides professional and consulting services. "I expect it to get weaker. But I see resiliency in some sectors."
The more promising industries included health care, wind energy, biotech and consumer products suppliers.
"We clearly have not hit bottom," said Jim Wunderman, president of the Bay Area Council. "Significantly more layoffs and business failures seem inevitable in every industry and every corner of our region."
The survey found that 48 percent of Alameda County businesses planned to undertake layoffs in the next six months. Some 41 percent of Contra Costa/Solano businesses intend to reduce jobs.
The most hopeful employment prospects were in San Mateo County, where 32 percent of firms plan job cuts.
The economic retrenchment has become so dire that some survey participants were unable to respond to the latest poll because they have closed their doors, the council said.
Yet some firms have prospered amid the economic wreckage.
Livermore-based Acutrack offers on-demand printing, packaging, and distribution for paper printing and media like CDs, DVDs and software.
"Our business model is the perfect solution for this kind of economy," said Raj Barman, president of Acutrack. "Companies can use our services to reduce expenses and waste."
Reach George Avalos at 925-977-8477 or email@example.com.