It is obvious that too many in government and leadership in San Fran spend their lunch hour smoking pot—and their weekends doing the hard stuff. When you have a town of 700,00 have 10,000 people laid off in one week—which also means there was almost no new hiring’s, you are in an economic freefall. Folks and companies are fleeing the town are quickly as possible.
The 10,000 that lost their jobs does not include those the quit their jobs and left town.
Will the last person to leave town turn out the lights, we need to save energy?
“This week in San Francisco, layoffs surpassed 10,000 for the year, according to our tracker. That’s a big number, but the layoffs don’t tell the whole story about our local economy, which is actually faring quite well.”
Tracking Layoffs: See the List of 105 SF Companies That Have Cut Staff in 2022
Written by Liz LindqwisterResearch by Shelley D. Fargo, SF Standard, 9/7/22022
San Francisco’s housing crisis intensified sharply during the pandemic, and recent layoff announcements from companies across the city only reinforce that fact.
Doma, a mortgage refinancing firm, laid off a whopping 250 staff members in late August. This news came on the heels of another large round of layoffs in the San Francisco Housing Authority, which laid off 146 employees in August. Another rental company, Apartment List, also reported layoffs, announcing a modest 29-person reduction in their workforce.
Big tech companies are not immune to the effects of America’s current economic challenges, either. Stripe and Snap (the parent company of Snapchat) laid off 50 and 40 workers, respectively, in San Francisco. Across all locations, Snap Inc. axed about 20% of the company’s workforce, totaling more than 1,200 employees.
Though tech companies justified their downsizing as post-acquisition downsizing or company restructuring, recent layoffs reflect the tightening of the tech market as companies slow hiring and adapt to a tanking stock market, ballooning inflation and other ongoing economic challenges.
In the past week, more than 600 employees from eight companies have been added to the list of 2022 San Francisco layoffs. Read more details in the charts below.
