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Tech Layoffs to Top 1,000 in San Francisco Bay Area by Late May, State Reports Show

posted by chromas on Sunday March 31 2019, @05:30AM   Printer-friendly

martyb writes:

Tech Layoffs to Top 1,000 in Bay Area by Late May, State Reports Show:

Tech and web-based companies intend to cut well over 1,000 jobs in the Bay Area between now and Memorial Day, according to new official filings with [California] state labor officials.

SAP, Oracle America, PayPal, Instacart and Thin Film Electronics are among the technology companies that have alerted the state's Employment Development Department of their intentions to reduce staffing levels.

All told, about 1,100 jobs will be lost through the employment reductions being planned by the five companies, WARN notices filed with the state EDD show.

According to the filing, SAP will eliminate 446 jobs — 179 in Palo Alto, 173 in San Ramon and 94 in South San Francisco.

Oracle intends to cut 352 positions: 255 in Redwood City and 97 in Santa Clara.

PayPal plans to reduce staffing levels by 183 jobs: 160 in San Jose and 23 in San Francisco. The South Bay job cuts are slated to occur at the e-commerce titan's offices on North First Street in San Jose.

Thin Film Electronics has issued an alert of 54 upcoming job cuts in San Jose.

Given the high cost of living in the area, let's hope none of them end up homeless.

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  • (Score: 0) by Anonymous Coward on Sunday March 31 2019, @02:54PM

    by Anonymous Coward on Sunday March 31 2019, @02:54PM (#822725)

    It won't. Once the collapse is under way, BRICS will move away from the US dollar, further deepening the crisis. Martial law will be declared, and World War 3 will begin soon after.

    It's a long way from here to the next gas station.