The wave of tech layoffs in the Bay Area continues to surge, with companies like Intel, Gigamon, Maxar Space, and AppLovin joining the list of firms slimming down their workforce. These reductions follow a series of recent job cuts by several other tech giants, highlighting an industry in flux trying to navigate an uncertain economic future.
According to filings with the California Employment Development Department reported by Silicon Valley, Intel is set to cut 47 jobs in San Jose by November 15. Additionally, Gigamon will let go of 69 employees in Santa Clara on New Year’s Eve. Maxar Space also recently reduced its workforce, laying off 61 employees across its Palo Alto and Mountain View locations on October 18. AppLovin’s cuts took place on October 15, impacting 58 workers in Palo Alto.
These tech companies are not alone in their contraction efforts. Earlier layoffs in the industry have been reported at Upwork, Coursera, Kraken, and several others, as noted by the San Francisco Chronicle. For example, Coursera shed 10% of its workforce, about 150 employees, following decreased revenue projections. At the same time, Kraken did not disclose specific numbers but referred to the need to become “leaner and faster,” as told to the Chronicle by its new co-CEO, Arjun Sethi.
This trend of tech job eliminations seems not to be slowing down, with over 47,800 jobs cut in the Bay Area since 2022. The continued downturn has affected giants like Meta Platforms, which has had 5,195 layoffs, and Tesla, which has cut 3,652 positions. As reported by Silicon Valley, these numbers only seem to grow as companies strive to become more cost-effective under the guise of economic pressure.
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