Nearly 600 more tech, life science job cuts rattle Bay Area economy

Nearly 600 more tech, life science job cuts rattle Bay Area economy

SAN JOSE — Tech and life science companies have revealed plans to chop nearly 600 more Bay Area jobs, a fresh round of layoffs that include hundreds of staffing reductions at a San Jose tech company.

Velodyne Lidar, Intel, Upstart Network, Udemy, Medallia and Lucira Health are among the latest companies to report plans for layoffs to the state Employment Development Department.

Here are the details for some of the most recent staffing reductions affecting workers in the Bay Area, and where the layoffs are occurring, according to the WARN notices posted with the EDD:

  • Velodyne Lidar, 220 job cuts in San Jose. The company provides lidar technology.
  • Intel, 112 layoffs in Santa Clara by the iconic chipmaker.
  • Upstart Network, 102 staffing cuts in San Mateo. The company uses artificial intelligence to provide online financial services.
  • Udemy, 74 job cuts in San Francisco. The firm is an online learning platform.
  • Medallia, 59 layoffs in Pleasanton, the software company said.
  • Lucira Health, 26 staffing reductions in Emeryville and Berkeley. The biotech firm provides at-home COVID test kits.

In the most recent rounds of layoffs, tech and life science companies sketched out plans to eliminate 593 jobs, the new WARN notices show.

San Jose-based Velodyne Lidar, which has created and supplies a radar-like and laser-based technology called lidar, completed a merger this month with another lidar company, Ouster.

Job cuts at Velodyne were among the consequences of the merger.

Santa Clara-based Intel’s job cuts marked the third distinct round of layoffs since mid-2022 for the semiconductor titan.

With the most recent round of layoffs, tech and life science companies have decided to carry out at least 21,000 job cuts in the Bay Area, according to this news organization’s review of WARN notices and public filings with state labor officials starting in mid-2022. Some job cuts have occurred and others are upcoming.

Source

Spread the love