October 21st 2024.
In a concerning turn of events, several tech companies have announced their plans to lay off hundreds of workers in the Bay Area. Despite the industry's attempts to stabilize, it seems that trimming employment is still a top priority for these companies. Intel, Maxar Space, Gigamon, and AppLovin have all revealed their intentions to reduce their workforces in the Bay Area, as reported in official filings with the state Employment Development Department.
Let's take a closer look at the details of these recent layoffs and their impact in the Bay Area. Intel plans to cut 47 jobs in San Jose on November 15th, while Gigamon will lay off 69 employees in Santa Clara on New Year's Eve. Maxar Space has already eliminated 61 positions in the South Bay, including 52 in Palo Alto and 9 in Mountain View, on October 18th. AppLovin also made cuts on October 15th, with 58 employees losing their jobs in Palo Alto. In addition, Kaiser Foundation Hospitals, while not a tech company, eliminated 14 tech jobs primarily in the East Bay.
Outside of the Bay Area, Intel is also planning to lay off 272 workers in Folsom on November 15th. Since 2022, the technology industry has cut over 47,800 jobs in the Bay Area, according to our compilation of hundreds of WARN notices from the state EDD. What's even more concerning is that many tech companies have already gone through multiple rounds of layoffs, with Intel, Maxar Space, and AppLovin all announcing previous reductions. Intel has even disclosed several rounds of job cuts.
Looking back at the past three years, it's clear that some tech companies have made significant cuts to their workforce. Meta Platforms leads the way with 5,195 layoffs in Menlo Park, San Francisco, Burlingame, Sunnyvale, and Fremont. Tesla follows closely behind with 3,652 job cuts in Fremont, Palo Alto, and San Mateo, while Cisco Systems has eliminated 2,649 positions in San Jose, San Francisco, and Milpitas. Google and Broadcom also made significant cuts, with 2,507 and 1,267 layoffs respectively in various Bay Area locations. Other companies that have downsized include Salesforce, Intel, Twitter, PayPal, and LinkedIn.
In their recent WARN notices, Intel, Gigamon, AppLovin, and Maxar all made it clear that these job cuts are permanent. It's a sobering reminder of the uncertain nature of the tech industry and the impact it can have on employees. As the industry continues to navigate through these challenges, it's important to keep a close eye on how these layoffs will affect the future of the Bay Area's job market.
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