Trade Resources Industry Views Architecture Firms Have Had to Cut a Third of Employees Since 2008

Architecture Firms Have Had to Cut a Third of Employees Since 2008

Architecture firms have had to cut a third of employees since 2008 as a result of receiving a 40-percent decline in revenue,according to a 2012 American Institute of Architects(AIA)Firm survey.

Although the nation rebounded from the recession in 2009,the firms'gross revenue has held a 40-percent decline for the past three years.In 2008,architecture firms pulled in$44 billion but declined to$26 billion by 2011,according to the report.Construction spending levels also took a hit in 2011 and fell below$800 billion in comparison to 2008 when spending levels were$1 trillion.

Between 2007 and 2011,more than 28 percent of positions at architecture firms had been cut,thus taking away the 18 percent increase in architecture positions in the 2003-2007,according to the survey.

 

 

 

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Architecture Firms Cut Personnel by Almost a Third, Decline in Gross Revenue by 40 Percent
Topics: Construction