Salesforce, Snap, Maxar Space and Activision Blizzard are among the high-profile companies that have disclosed plans for job cuts affecting their employees in the Bay Area, according to official filings with the state Employment Development Department.
The PayPal announcement coincided with Block Founder and CEO Jack Dorsey following through on his commitment to widespread job cuts at the finance and payments-focused tech firm, reportedly letting go of close to 1,000 people.
Having risen steadily last autumn and peaked in January, tech layoffs had declined for eight straight months this year before rising again in October. The factors believed to be responsible could signal more to come.
The numbers of people being laid off are nearly evenly divided between the financial and technology sectors, but in the latter case, reflect layoffs slowing regionally.
With the latest cutbacks, tech companies have disclosed plans to eliminate more than 25,200 jobs in the Bay Area over a 17-month stretch that includes all of 2022 and so far in 2023.
The Metropolitan Transportation Commission, which handles transportation-related activities for nine San Francisco Bay Area counties, has released a mini request for qualifications as it works to update a key website.
Four tech companies, two biotech firms and a real estate ally of Google that’s been jolted by the search giant’s development slowdown are among the most recent firms to reveal layoff plans to the Employment Development Department.
“As the large companies scale back their spending, that affects the market for the startups. It’s getting harder and harder.”
