With all the challenges in the economy, and all the layoff notices, it’s easy to assume that even the biggest tech corporations are grinding to a halt. But a pair of Savills reports show that is far from the case, and that even with all the noise there are US CRE markets that still can expect to do quite well.

The report Tech Cities: Five key trends for occupiers starts with the reminder of where tech employment currently sits. Is it down some? Yes. By a lot? Not so much, depending on where you are.  Savills looked at the company reports of Meta, Amazon, Apple, Netflix, Alphabet, Microsoft, Tesla, Nvidia, and Advanced Micro Devices. Here’s the telling sentence: “In spite of recent layoffs, average headcounts remain 66% up on pre-pandemic levels among major tech companies.”

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Erik Sherman

GlobeSt

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