Fresh waves of job cuts have surfaced at Cisco Systems, which will chop dozens more workers in San Jose as tech companies slash hundreds of positions in the latest round of staffing reductions.
Cisco Systems has decided to eliminate another 53 jobs in the South Bay, according to an official WARN notice the legendary tech titan sent to the state Employment Development Department.
Other tech companies that recently revealed plans for layoffs in the Bay Area include Cuberg and Five9, according to this news organization’s review of the state EDD WARN notices.
The most recently disclosed layoffs will eliminate 353 tech industry jobs in the Bay Area, the WARN filings show.
The disclosures of Cisco’s job cuts arrive on the heels of the tech company’s announcement that it would slash 7% of its workforce, which could amount to a loss of 5,900 positions worldwide.
Here are some details of the recent layoff disclosures affecting tech workers in the Bay Area, according to the state EDD reports:
— Cisco, 53 job cuts in San Jose. The networking company says the effective date is Oct. 18.
— Five9, 33 layoffs, including 30 in San Ramon and three in San Francisco. The software company said the effective date was Aug. 20.
— Cuberg, an advanced battery company, is cutting 196 jobs in San Leandro as part of a permanent closure of its site. The effective date is scheduled for Oct. 19.
— AppLovin, a software firm, decided to jettison 61 jobs in Palo Alto. These reductions occurred Aug. 15.
— Fastly, an Internet and software company, eliminated 52 jobs in San Francisco. Those cuts are slated to take place Oct. 11.
Penumbra, a biotech firm, is cutting 71 jobs in Alameda. These reductions are scheduled for Nov. 1.
Tech companies launched an elevated level of staffing reductions starting in early 2022.
In 2022, 2023 and so far in 2024, tech companies have revealed plans to chop slightly more than 46,000 jobs in the Bay Area.
While tech companies have also hired new workers as they pursue new opportunities such as artificial intelligence, electric vehicles and green energy endeavors, the layoffs have unleashed an overall effect on tech hiring.
Over the 12 months that ended in July, the Bay Area lost a net total of 16,000 jobs, according to seasonally adjusted estimates released by Beacon Economics that were based on the EDD’s monthly reports.
The San Francisco-San Mateo metro area lost an astounding 14,700 tech jobs during that one-year period
The South Bay lost 4,300 tech jobs during the one year ending in July, according to the Beacon assessment.
The East Bay managed to add 2,900 tech jobs, the Beacon estimate determined. Solano County gained 100 tech jobs.
More tech layoffs could come into view should Cisco continue disclosing plans for staffing reductions.
Plus, on Aug. 1, Intel disclosed its intention to conduct massive layoffs that would eliminate 15,000 jobs worldwide.
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