SiliconBeat

Pillar Data Systems, the San Jose storage company backed by billionaire Oracle founder Larry Ellison, said Wednesday it would layoff 150 employees, or about 30 percent of the company’s work force. The step was taken to help the company “weather the storm” of the current economy, company spokesman Chris Drago told Mercury News reporter Scott Duke Harris, who writes for Thursday’s paper about “triage efforts” to help companies survive the current downturn.

The pace of layoffs in Silicon Valley seems to be picking up, according to Janice Shriver from the state’s Employment Development Department. She says that efforts Read the rest of this entry »