SAN JOSE – Cisco Systems has seen a new wave of layoffs: The company will cut dozens more jobs in San Jose, as technology companies cut hundreds of jobs in its latest round of downsizing.
Cisco Systems has decided to cut another 53 jobs in the South Bay, according to an official WARN notice the legendary tech giant sent to the state Employment Development Department.
Other technology companies that recently announced layoff plans in the Bay Area include Cuberg and Five9, according to this news organization’s review of the state EDD’s WARN notices.
WARN filings show that the recently announced layoffs will result in 353 tech jobs being lost in the Bay Area.
Shortly before Cisco announced its job cuts, the technology company announced it would cut seven percent of its workforce, which could equate to a loss of 5,900 jobs worldwide.
Here are some details on recent layoff announcements affecting Bay Area technicians, according to state EDD reports:
— Cisco is cutting 53 jobs in San Jose. The networking company says the layoffs will take effect on October 18.
– Five9: 33 layoffs, including 30 in San Ramon and three in San Francisco. The software company said the layoffs would take effect on August 20.
— Cuberg, a manufacturer of advanced batteries, is cutting 196 jobs as it permanently closes its San Leandro facility. The closure is scheduled for October 19.
— AppLovin, a software company, has decided to eliminate 61 jobs in Palo Alto. These cuts took place on August 15.
— Fastly, an internet and software company, has cut 52 jobs in San Francisco. The layoffs are scheduled to take place on October 11.
Penumbra, a biotechnology company, is cutting 71 jobs in Alameda. The layoffs are scheduled for November 1.
Technology companies have begun to cut jobs intensified in early 2022.
In 2022, 2023 and so far in 2024, technology companies have announced plans to cut just over 46,000 jobs in the Bay Area.
While technology companies also hired new employees to pursue new opportunities in artificial intelligence, electric vehicles and green energy, the layoffs had an overall impact on technology hiring.
In the 12 months through July, the Bay Area saw a net loss of 16,000 jobs, according to seasonally adjusted estimates from Beacon Economics, which are based on monthly reports from the EDD.
In the greater San Francisco-San Mateo area, a whopping 14,700 technology jobs were lost during this period.
According to the Beacon’s estimate, 4,300 technology jobs were lost in the South Bay in the period through July.
In the East Bay, the Beacon estimates that 2,900 new jobs were created in the technology sector, while Solano County added 100 new jobs.
If Cisco continues to announce plans for staff cuts, further layoffs in the technology sector could be looming.
In addition, on August 1, Intel announced its intention to conduct mass layoffs that would result in the loss of 15,000 jobs worldwide.
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