Tech companies have disclosed plans to slash more than 1,000 additional jobs in the Bay Area, cutbacks that suggest the high-tech sector in the region is off to an ominous start in 2024, official state notices show.
LinkedIn, a work- and career-oriented social network; Cruise, a self-driving car company; and Carbon, a 3-D digital printing firm, are among the tech companies to officially reveal the local impact of layoffs they have been planning, documents on file with the state Employment Development Department.
Here are the details of the impact on the Bay Area job market of the layoffs in WARN notices sent to the EDD and posted on the state agency’s public website:
— LinkedIn decided to chop 433 jobs in the Bay Area. Of these, 349 were in Mountain View, 42 in Sunnyvale and 42 in San Francisco. LinkedIn’s WARN letter bears a Dec. 15, 2023. The EDD posted the information on its site on Jan. 19 of this year. The layoffs took effect on Dec. 15.
— Cruise has decided to cut 535 Bay Area jobs. These consist of 474 job cuts in San Francisco, 43 in Sunnyvale and 18 in South San Francisco. The Cruise WARN letter was dated Dec. 14 and posted by the EDD on Jan. 19, 2024. These layoffs took effect in mid-December.
— Carbon, in a Dec. 12 letter, disclosed plans to eliminate 60 jobs in Redwood City. These cutbacks were scheduled for Feb. 15.
All told, these three companies disclosed plans for the elimination of 1,028 jobs in the Bay Area.
In addition, these companies in the healthcare, biotech and medical industries are also cutting Bay Area positions:
— Becton, Dickinson, a medical technology firm, is cutting 111 jobs in San Jose. These positions are part of a layoff event that began in March 2023 and will continue all the way to the end of September, 2024.
— Invitae, a biotech firm that offers genetic testing, has decided to cut 238 jobs.
The tech and life sciences companies all described their job cuts as “permanent.”
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