Confidence Survey Shows Business Leaders Not Confident

More layoffs and shuttered businesses are in store for the American economy, according to the results of the latest quarterly Business Confidence Survey, conducted by the Bay Area Council.

Many of the business leaders who say they’re pessimistic about their short-term outlooks run Silicon Valley companies, many of which fall in the communications sector.

Almost half of the people surveyed said they plan to cut jobs over the next six months. The numbers were likely to be higher for large firms, they said.

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