Big Tech has announced plans to cut hundreds of more jobs in a California region that has lost 45,000 jobs in the industry since 2022.
According to a filing Intuit sent to the state Employment Development Department, the firm will chop 384 workers at its headquarters in Mountain View, California. The announcement comes as the tech giant pivots to a new technology: artificial intelligence.
The company’s layoffs in the Bay Area are part of its plans to cut roughly 10% of its workforce, replacing employees with a similar number of experts in artificial intelligence, product development, and customer service.
“Companies that aren’t prepared to take advantage of this AI revolution will fall behind and, over time, will no longer exist,” Intuit CEO Sasan Goodarzi stated in a blog post on Wednesday.
An assessment by the Mercury News of tech layoffs revealed the Bay Area has lost thousands of jobs since 2022. Its review of California’s Worker Adjustment and Retraining Notification notices found that more than 45,300 Bay Area jobs have been cut in the last two years.
From Intuit and Tesla to Google and Intel, Silicon Valley companies say the cutbacks come as an effort to reduce costs and run leaner operations.
In May, Tesla said it was laying off 601 workers at six of the company’s Bay Area facilities. Months before, it chopped 2,753 jobs at the electric carmaker’s gigafactory in Fremont, California, and its offices in Palo Alto, California.
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Google recently announced it would downsize office space in the Bay Area, making the announcement after it said it would lay off more than 700 employees in January.
In 2022, semiconductor giant Intel announced a restructuring initiative, cutting 7,000 jobs in the next year as part of an effort to mitigate costs due to declining revenues. Intel chopped 62 more jobs at its headquarters in Santa Clara, California, in March.
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