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Today's E-Edition
PALO ALTO — Tech companies have revealed plans to erase about 400 more jobs in the Bay Area, fresh waves of cutbacks that bring the current crop of tech and biotech layoffs in the region to a grim milestone of 20,000.
SAP America, Twilio and ContextLogic are among the tech companies that have posted newly disclosed intentions to trim their workforces in a big way.
With the latest WARN reports to the state’s labor agency, tech and biotech companies have completed or are planning layoffs in the Bay Area that will chop at least 20,000 positions, this news organization’s survey of the notifications shows.
The most recent layoffs reported by SAP America, Twilio and ContextLogic will affect tech workers in Palo Alto, San Francisco and San Ramon, the new filings with the state Employment Development Department (EDD) show.
All told, the three companies have reported their decision to chop a combined 430 jobs, according to the WARN notices to EDD officials.
Here are the details for some of the most recent layoffs filed with the EDD that will trigger Bay Area tech job cuts:
SAP’s cutbacks are affecting sites where the company has significant numbers of software employees.
Several years ago, SAP launched a high-profile innovation and research center in San Ramon in an effort to tap tech talent from the East Bay and San Joaquin Valley.
Twilio, SAP and ContextLogic all described their job cuts as permanent layoffs.
These are the tech or biotech companies with the 10-largest layoff events affecting workers in the Bay Area, ranked by the number of job cuts that they have reported to the EDD:
Despite the ongoing waves of job cuts, the current problem is nowhere close to the level of the dot-com meltdown of the early 2000s, according to Russell Hancock, president of San Jose-based Joint Venture Silicon Valley, a think tank.
“The pandemic was a bonanza for tech,” Hancock said. “During COVID, tech scaled up hiring enormously. Now, tech has new demand curves. They have to recalibrate and reduce their workforces.”
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