AMD layoffs to affect Austin the most

[scongress1234]

Originally Posted by austin_or_sd

Layoffs at Dell continues. This time, it is not factory but (high) salaried tech workers. It makes me wondering how the layoffs will affect the real estate market.

Another question is how it will affect Austin's rep as a job mecca per relocatees. If the zeitgiest is that the local economy is slowly markedly like the areas folks are running away from with poor job markets, it becomes a "you can't run or hide" thing. Add to that the difficulty in the real estate markets in cities the relocatees are moving from, and the impact that has on them selling their houses, with the equity they need to bring to Austin, and you are looking at a scenario that could not only create flat in-migration, but cause a net loss of metro residents for the first time since 2001. If this happens, I think it is good for Austin in the long-term, as the infrastructure is near the breaking point, and there are truly too many new people for the job market to properly absorb at this point. Austin seemed self-contained from the outer world of recession for quite some time, but the storm evidentally just took a little longer to hit Austin. Again, this could be a good thing if it gives the city a breather to replenish the infrastucture, and the residents more time to absorb the newcomers and traffic themselves.

[texastea]

Originally Posted by Jenbar

There were layoffs at Dell yesterday - definitely NOT factory workers.

Jen, do you know which areas or teams were most affected? My dh didn't hear anything about it internally.