Bay Area tech job cuts revealed so far in 2023 have already topped the total for all of 2022, an ominous reminder of the widening waves of layoffs that the technology industry has orchestrated.
Over the first one-third of 2023, a period of four months, tech companies have revealed plans to chop well over 12,000 Bay Area jobs, this new organization’s review of official state labor filings shows.
The 12,318 job cuts affecting tech workers in the Bay Area that have been revealed so far in 2023 now exceed — by a wide margin — the 10,457 tech sector layoffs disclosed in the nine-county region during all 12 months of 2022, WARN notices on file with the state Employment Development Department show.
The latest tech layoffs in the Bay Area include a disclosure by Facebook app owner Meta Platforms that the company is planning more than 1,500 layoffs in June and July, according to the EDD filings.
Bottom line: Tech industry layoffs during 2023 are galloping ahead at a far more brutal pace than in 2022.
In 2022, tech companies chopped jobs at a rate of roughly 871 a month in the Bay Area.
So far in 2023, tech layoffs in the Bay Area are running at about 3,000 a month. Some of the tech job cuts have already been completed, while others have yet to occur, the EDD WARN notices show.
Ominously, a growing number of tech companies have notified state labor officials of multiple rounds of layoffs.
