In recent months, job cuts have hit several high-profile companies in the Bay Area’s tech sector. Lockheed Martin, a defense and aerospace contractor, announced plans to cut 68 positions in Sunnyvale and Palo Alto on June 10. Coherent, a semiconductor company, also filed for the elimination of 61 jobs in Santa Clara on the same date. Hinge Health, a tech company based in San Francisco, is slashing 77 positions on June 11. All three companies have stated that these job cuts are permanent.
The total number of layoffs in the Bay Area’s tech industry for April reached 949, with Apple accounting for 614 of those cuts in Santa Clara. This surpasses the number of job cuts reported by tech companies in March, which was 352. However, it is important to note that the total number of layoffs in April and March are lower compared to the figures for January and February.
In the first two months of this year, tech companies announced plans to cut a staggering 3,248 jobs across the nine-county Bay Area region. Since then, over 38,800 jobs have been eliminated by tech companies in the region. This trend highlights ongoing workforce reductions in the region’s tech sector. The impact of these job cuts will be felt not only by those affected but also by the local economy as a whole.