Yes, major firms have been leaving San Fran as fast as leases expire. Student enrollment has declined, showing families are leaving town. Now we see small and medium sized firms are. Remember, as these forms lay off people, that means the small businesses around the firms will have fewer customers—and it gives these workers more reason to leave the dying town. laying off workers, ahead of the oncoming recession.
Now this:
“Salesforce gives up another big chunk of office space, one more blow to downtown S.F. — The tech giant and city’s largest private employer is marketing 350,000 square feet in the property known as Salesforce West for lease, according real estate database CoStar. It’s one of the biggest listings of vacant office space in the city, with room for roughly 1,750 workers, and another sign of how remote work is weakening demand for workspaces. Roland Li in the San Francisco Chronicle$ — 7/13/22
Tracking Layoffs: San Francisco Companies Have Cut 6,500 Workers So Far This Year
Jiyun Tsai, Shelley D. Fargo, San Fran Standard, 7/12/22
Ever since Elon Musk began his push to buy Twitter, the ongoing drama has disrupted the operations of the social media titan.
Last Thursday, Twitter announced it would lay off one-third of its recruitment team after the company paused most of its hiring and backfills in May. The decision impacts roughly 100 employees on the team.
Beyond Twitter, many other San Francisco-based companies have instituted hiring freezes or cut staff as venture capitalists tighten their purse strings to brace against the downturn, especially in SF. Interiors site Modsy and Airbnb-like WanderJaunt both shut down, impacting hundreds of workers. As of July 8, there are 57 companies that shut down or laid off staff in 2022, impacting more than 6,500 workers.
The SF Standard compiled its Layoff Tracker by scanning news reports and public records. The list includes layoffs by all companies founded or headquartered in San Francisco, as well as layoffs in the city by companies based elsewhere. New information will be added regularly.
