Wednesday, June 11, 2008

Walnut Creek's Westaff Down in the Hole

By Chris Thompson
Wed, Jun 11, 2008 at 9:04 AM

Unemployment shot up a full half a percent last month, so how is it that the Walnut Creek-based temp agency Westaff is going broke? According to the East Bay Business Times, Westaff posted an unsettling $25.2 million loss in the second quarter. In addition, the company is now in default for $28 million in debt, and its controller and chief financial officer resigned last month, presumably under cloudy conditions. You've really got to be screwing up if a temp agency can't make it in an economic downturn...

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