Better employee productivity and a slowing economy have caused Vanguard to hold off its development plans for a piece of land it purchased in 2000. The Mercury reports that the company has indefinitely postponed its construction plans for the Happy Days Farm in Uwchlan, Pennsylvania, that it purchased in 2000. Valley Forge-headquartered Vanguard had originally planned to develop the farm into a corporate campus with space for 10,000 crew members.

"Our forecasts for employee growth have moderated due to the growing use of the Internet and other productivity gains resulting from our ongoing investments in technology," Vanguard spokesman John Woerth told the pub, adding that business activity has also slowed due to the economy and slowing markets. 

Edited by: Erin Kello


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE