The Daily Feed

Corporate Executive Board Offers Voluntary Layoff Package

Photo courtesy of
‘food lines’
courtesy of ‘woodleywonderworks’

Despite how often we hear that DC is the closest thing to a “recession-proof” town because of all the government jobs here, private sector businesses continue to feel the crunch of tightening credit markets and an economy in which companies are cutting back on discretionary spending. Yesterday Arlington-based Corporate Executive Board announced that 155 employees accepted voluntary buyout packages.  The company, which sells best-practice research mainly to Fortune 500 companies has seen a 14% drop in revenue to $117.4 million this past quarter, according to Washington Business Journal. And just after having recently consolidated its multiple DC-based offices into one massive corporate tower directly across the waterfront in Rosslyn, CEB had to lease 172,000 square feet of space to Deloitte. I interviewed at CEB a short while back and remembered thinking “man, there’s a lot of empty space around here…” Evidently they were planning to grow a lot more… Continue reading