SAN FRANCISCO: The tech sector is undergoing yet another round of layoffs in the Bay Area, as two major companies, Logitech and Salesforce, have filed new disclosures for staffing reductions in the region. According to the most recent official filings with the state Employment Development Department (EDD), an estimated 138 jobs are being eliminated in the Bay Area.
Salesforce, a cloud-based software giant, is cutting 86 jobs in San Francisco, while Logitech, a leading manufacturer of computer peripherals like mice and keyboards, is cutting 52 jobs in Newark. Both companies have cited various reasons for the layoffs, including restructuring, cost-cutting measures, and changing business priorities.
Since mid-2022, tech companies in the Bay Area have announced plans to eliminate over 20,000 jobs. Some of these job cuts have already occurred, while others are scheduled to take place in the future. Salesforce, for instance, has revealed plans to eliminate a total of 1,151 jobs in the Bay Area, all in San Francisco.
Salesforce’s latest layoffs are set to take place on May 30th, while Logitech’s job cuts were effective on March 30th, as per the company’s WARN letter. The job cuts come at a time when the tech industry is facing increasing pressure to cut costs amid rising competition and other market pressures.
The impact of these layoffs on the broader Bay Area economy remains to be seen, but the trend is undoubtedly a cause for concern. As companies continue to adjust to changing market conditions, it is likely that we will see more layoffs and other workforce reductions in the tech industry in the coming months.
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