Several hundred tech workers in the Bay Area are about to lose their jobs in new waves of layoffs. This is a worrying sign that the sector’s hiring cuts have not yet reached their peak.
This news group put together official WARN letters that several companies have sent to the California Employment Development Department.
The letters show that Amazon, Dropbox, GoPro, Article, and Visa plan to cut more than 400 jobs. For more information on the most current disclosures, see below:
— Dropbox, a company that stores files in the cloud, is going to lay off 174 people in San Francisco. The job cuts are set to happen on November 15.
Visa, a company that makes electronic and online credit cards, said it was letting go of 91 workers in San Francisco and Foster City. The layoffs are set for January 3, 2025.
GoPro, a company that makes action cameras, video editing software, and mobile apps, said it was cutting 73 jobs in San Mateo. The firings are set to happen on November 8.
— The huge online store Amazon wants to cut 57 jobs in Milpitas. The cuts will happen on December 27.
Article, an online furniture store, said it was letting go of 14 employees in Hayward. The firings are set for December 31.
In the most recent WARN warnings, these companies told the EDD that they were letting go of a total of 409 tech jobs in the Bay Area.
This news organization put together hundreds of WARN warnings from tech companies that said they were going to cut more than 48,900 jobs in 2022, 2023, and 2024. After the hiring boom caused by the pandemic started to fade, the tech industry has been cutting jobs at a very high rate.
Even with the most recent layoffs, the tech industry is beginning to slow down its massive Bay Area layoffs. Tech firms said they were going to cut more than 13,000 jobs in the Bay Area in the first half of 2024, which is about 500 jobs per week on average.
But in the last six months of 2024, including the most recent round of job cuts, tech companies in the region have said they plan to cut about 4,000 jobs, or about 220 a week.