Tech Layoffs: Timeline Exhibits Greatest Job Cuts Affecting SF Bay Space
Mass layoffs have been rampant within the tech business in current months because the labor market now faces a big contraction after years of over-hiring in the course of the pandemic.
In line with Layoffs.FYI, greater than 220,000 individuals have been laid off worldwide since October, with dire penalties for a lot of, together with migrant staff. The Bay Space, particularly, has been hit onerous as Meta, Google, Twitter and different tech firms primarily based within the space have compelled about 100,000 individuals out of their jobs.
The next timeline exhibits when main tech firms introduced cuts that affected giant numbers of Bay Space staff, in addition to vital layoffs introduced by firms primarily based within the space. Notable omissions embrace Amazon, Microsoft, Dell and different layoff bulletins with little influence on the Bay Space.
March 14: Meta
Complete: 21,000 staff | Bay Space: Unknown
Meta has introduced it’s going to lower an extra 10,000 staff in one other main downsizing for one of many Bay Areas largest employers.
With 21,000 complete layoffs since final November, the Menlo Park-based firm has made probably the most cuts of any tech firm in the course of the pandemic, now outpacing Amazon’s cuts of about 18,000.
The layoffs come within the wake of the promoting downturn and a expensive guess on the metaverse that has value the social networking firm billions of {dollars}.
February 13: Twilio
Complete: 1,500 staff | Bay Space: Unknown
The cloud communications firm advised its staff it deliberate to put off 17 p.c of its workforce, about 1,500 of the almost 9,000 staff the corporate stated it had as of September final 12 months.
Over the previous 15 years, we have led Twilio for development, constructing an enormous buyer base, product suite, and income base. However environments change and so should we, CEO Jeff Lawson stated in a word posted on the corporate’s web site. The layoffs come after Lawson advised staff final September that the corporate would lower 11 p.c of its workforce as a part of an ongoing drive for profitability.
February 7: Zoom
Complete: 1,300 staff | Bay Space: Unknown
The San Jose-based video conferencing software program firm, which has change into ubiquitous in the course of the pandemic, introduced it’s going to lay off 1,300 staff, or about 15 p.c of its workforce.
In a message to staff posted on the corporate’s web site, CEO Eric Yuan stated, like many different tech firms, Zoom has been staffing up in the course of the pandemic to satisfy rising demand for its providers, which has tripled in dimension. .
Not like different tech CEOs who’ve lately introduced giant rounds of layoffs whereas taking duty for cuts, Yuan stated he and his govt workforce will lower their very own salaries for the present fiscal 12 months.
January 31: PayPal
Complete: 2,000 staff | Bay space: 319
The San Jose digital funds firm has introduced a deliberate layoff of two,000 staff, which is about 7% of the corporate’s workforce.
The cuts had been introduced the identical day that San Jose-based cloud software program firm NetApp stated it will lower 8 p.c of its workforce, whereas CEOs of Pleasanton software program firm WorkDay stated in a securities submitting that 3 p.c of its staff would lose jobs.
PayPal CEO Dan Schulman advised staff in a memo that the job cuts would take impact within the coming weeks and promised beneficiant severance packages, amongst different advantages.
Whereas we’ve got made vital progress in getting our value construction proper and targeted our sources on our key strategic priorities, we’ve got extra work to do, Schulman wrote.
January 20: Google, Alphabet
Complete: 12,000 staff | Bay space: 1,608
Alphabet, the father or mother firm of search large Google, introduced mass layoffs on January 20. Chief Govt Sundar Pichai advised staff that 12,000 jobs can be lower globally, about 6% of its workforce. The corporate’s cuts will have an effect on no less than 1,845 staff in California, together with 1,608 within the Bay Space, in accordance with state filings.
The layoffs hit the corporate’s Mountain View headquarters hardest with nearly all of cuts within the state with 1,436 staff affected. Different workplaces affected embrace San Bruno, the place YouTube is headquartered, Palo Alto, Los Angeles and Irvine. No jobs had been affected in San Francisco, the place Google has a number of workplaces close to the Embarcadero.
January 10: Coinbase
Complete: 950 staff | Bay Space: Unknown
Cryptocurrency trade Coinbase is shedding about 950 staff within the firm’s second main layoff in seven months, CEO Brian Armstrong introduced to staff on Jan. 3. The cuts have an effect on 20% of staff at Coinbase, which was beforehand headquartered in San Francisco and is now distant. The corporate lower 1,100 jobs in June.
Salesforce, San Francisco’s largest personal employer, introduced Jan. 4 that it’ll lower about 10 p.c of its almost 80,000-person workforce.
Salgu Wissmath/The Chronicle, Hearst Fellow / The ChronicleJanuary 4: Salesforce
Complete: 8,000 staff | Bay Space: Over 700
The cloud computing large, which is San Francisco’s largest personal employer, introduced Jan. 4 that it’ll lower about 10 p.c of its almost 80,000-strong workforce. Greater than 750 staff within the firm’s hometown had been affected by everlasting layoffs.
November 30: Kraken
Complete: 1,100 staff | Bay Space: Unknown
Kraken, one of many world’s largest cryptocurrency exchanges, introduced job cuts on November 30. CEO Jesse Powell wrote in a weblog put up on its web site that the corporate will lay off about 1,100 individuals, or 30% of the San Francisco-based firm’s worldwide workforce, so as to adapt to present market situations.
November 30: DoorDash
Complete: 1,250 staff | Bay Space: Over 300
The meals supply large introduced layoffs on Nov. 30, with CEO Tony Xu telling staff that the San Francisco-based firm will lower 1,250 jobs, regardless of writing in a put up that our enterprise stays sturdy and continues to develop. In a submitting, Doordash stated 311 of its affected staff are primarily based in San Francisco.
November 22: HP
Complete: Between 4,000 and 6,000 staff | Bay Space: Unknown
HP advised traders on Nov. 22 that the corporate plans to put off between 4,000 and 6,000 individuals at its workplaces all over the world over the following two years. The Palo Alto-based firm, which makes pc {hardware} and software program, beforehand advised traders it had about 51,000 staff worldwide.
Cisco CEO Chuck Robbins throughout a press convention at The Pearl in San Francisco in 2017. The infrastructure know-how large is shedding 5% of its workforce, or greater than 4,000 individuals.
Santiago Mejia, Employees / The ChronicleNovember 17: Cisco
Complete: 4,000 staff | Bay Space: Over 700
Know-how infrastructure large Cisco is shedding 5 p.c of its workforce, or greater than 4,000 individuals, together with almost 700 Bay Space staff. However the San Jose firm stated it’s going to proceed to rent in development areas and expects to have an identical headcount of about 83,300 on the finish of its fiscal 12 months that led to July because it did final 12 months.
November 9: Meta
Complete: 11,000 staff | Bay Space: Over 2,500
Meta introduced mass layoffs on Nov. 9, saying it was the end result of a monetary rollercoaster experience in the course of the pandemic. The job losses affected 11,000 staff, together with 2,564 jobs within the Bay Space. The layoffs affected 13 p.c of its workforce and had been the biggest downsizing within the Menlo Park-based firm’s historical past.
The anticipated dates of the Park Tower layoffs had been Jan. 13 and Feb. 10, Fb’s father or mother firm stated.
November 4: Twitter
Complete: 3,700 staff | Bay Space: Virtually 900
Since Elon Musk took over as proprietor and CEO of the social media large in October, a number of rounds of layoffs have been introduced and almost two-thirds of the corporate’s employees has been lower. Twitter laid off 784 staff in San Francisco and 106 staff in San Jose, in accordance with state filings on Nov. 4.
The San Francisco-based firm has confronted a number of lawsuits since then, together with from affected staff over alleged improper severance packages and allegations of discrimination towards ladies and other people with disabilities, in addition to claims for unpaid lease at a number of workplaces.
Stripe, a web-based fee processor and the second most beneficial personal startup within the US, introduced in November that it plans to put off about 14% of its employees, or greater than 1,000 staff.
Lea Suzuki/The Chronicle 2018November 3: Riga
Complete: 1,000 staff | Bay Space: Unknown
Stripe, a web-based fee processor and the second most beneficial personal startup within the US, is shedding about 14% of its employees, or greater than 1,000 staff. Patrick Collison, CEO of the South San Francisco-based firm, introduced the cuts in a Nov. 3 e mail to employees. The layoffs will cut back the corporate’s headcount to about 7,000 individuals, equal to its dimension in February 2022.
Chronicle employees writers Erika Carlos, Roland Li and Joel Umanzor contributed to this report.
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