The California economic collapse continues; tech industry leads the way.
We know that Hollywood is getting rid of at least 17% of its workers, thanks to the settlement of the recent strike. The auto industry has begun laying off workers—thanks to its recent strike and the EV mandate. Now the tech industry is on the way to be a memory in the former Golden State.
“Tech companies revealed plans to chop hundreds more jobs in the Bay Area, while a biotech firm is cutting dozens more positions, worsening an already shaky start for early 2024, state documents show.
Bill.com, Juniper and Spotify are the tech companies that have disclosed their intentions to chop jobs in the Bay Area in the latest round of layoffs. Amyris, a biotech firm, also revealed plans to cut positions.
All told, the tech industry has decided to slash at least 251 jobs in the Bay Area, according to WARN notices on file with the state Employment Development Department.
These well paying jobs are gone—and the tax revenues of California will go down further—in the era of a $68 billion deficit.
Tech layoffs widen in Bay Area, adding to industry woes in shaky early 2024
Biotech job cuts also worsen in region
By GEORGE AVALOS, Bay Area News Group, 1/18/24 https://www.mercurynews.com/2024/01/18/tech-job-cut-layoff-economy-san-jose-sunnyvale-bill-juniper-spotify/?campaign=sjmnbreakingnews&utm_email=F5230554C4350510F4A84435A4&active=no&lctg=F5230554C4350510F4A84435A4&utm_source=listrak&utm_medium=email&utm_term=https%3a%2f%2fwww.mercurynews.com%2f2024%2f01%2f18%2ftech-job-cut-layoff-economy-san-jose-sunnyvale-bill-juniper-spotify%2f&utm_campaign=bang-sjmn-nl-breaking-news-alerts-nl&utm_content=alert
SAN JOSE — Tech companies revealed plans to chop hundreds more jobs in the Bay Area, while a biotech firm is cutting dozens more positions, worsening an already shaky start for early 2024, state documents show.
Bill.com, Juniper and Spotify are the tech companies that have disclosed their intentions to chop jobs in the Bay Area in the latest round of layoffs. Amyris, a biotech firm, also revealed plans to cut positions.
All told, the tech industry has decided to slash at least 251 jobs in the Bay Area, according to WARN notices on file with the state Employment Development Department.
Here are the details for the most recent layoffs to affect tech workers in the Bay Area, according to a post on the EDD’s official site.
— Bill.com, acting through an affiliate called Bill Operations LLC, has decided to eliminate 156 jobs, all at the company’s headquarters complex in north San Jose. These layoffs are due to take effect on Feb. 5. A second wave of Bill.com layoffs are anticipated on March 1 and a third wave should occur around March 29.
— Juniper Networks is cutting 51 jobs, all in Sunnyvale. The staffing reductions are slated to occur on Feb. 5.
— Spotify USA is slashing 44 positions, all in San Francisco. The cutbacks are scheduled for March 4.
Biotech firm Amyris is cutting 89 jobs in Emeryville, effective Feb. 7.
In all instances, the job cuts are being described as permanent.
Juniper Networks stated that it would attempt to assist affected employees in the wake of their upcoming job losses.
“The company (Juniper) intends to offer severance benefits and transition programs (including outplacement services and employee assistance program) to affected employees,” Lisa Pimentel, Juniper’s HR senior director, stated in the WARN letter sent to the EDD. “It is our hope that these programs will lessen the impact of the mass layoff on individual employees and the community as a whole.”
