City
Epaper

Tech, biotech companies plan fresh layoffs in Silicon Valley

By IANS | Updated: February 14, 2023 11:35 IST

San Francisco, Feb 14 In more bad news for global workers, tech and biotech companies in the Silicon ...

Open in App

San Francisco, Feb 14 In more bad news for global workers, tech and biotech companies in the Silicon Valley in the US are preparing for multiple rounds of fresh job cuts, the media reported.

To date, Microsoft, Amazon, Intel, Twitter, Salesforce, PayPal, RingCentral and Zymergen have all filed WARN notices that reflect at least two distinct rounds of layoffs.

Six of the eight companies filed disclosures of planned job cuts this year, a review of the WARN notices showed.

"As of February 9, these were the 10 most recent WARN notices that tech or biotech companies filed to disclose job cuts in the Bay Area," the report mentioned.

Tech and biotech companies have filed plans that cut at least 19,500 jobs in the Bay Area, "with no indication that the job losses have begun to abate".

The unsettling news came to light after Microsoft reported it would cut 62 jobs in Mountain View a" the second time the tech titan filed layoff notices with the state's labour agency, the report said.

More than 17,400 employees in the tech industry have lost jobs in the month of February globally to date.

In 2023 so far, around 340 companies have laid off more than 1.10 lakh employees worldwide, and there appears to be no respite from job cuts.

In January, close to 1 lakh of them lost jobs in the month of January globally, dominated by companies like Amazon, Microsoft, Google, Salesforce and others, according to layoff.fyi, a website that tracks job cuts globally.

More job cuts are likely coming in days to come amid recession fears.

So far, more than 2.5 lakh tech employees have lost jobs.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

NationalPakistan Army resorts to unprovoked firing on LoC in J&K for 8th consecutive day

BusinessPiyush Goyal holds trade talks with EU Commissioner, India-EU reaffirm to conclude FTA by end of 2025

NationalHeavy Rains in Bengaluru: Auto Driver Dies After Tree Falls on Vehicle

InternationalUS V-P Vance claims Waltz's ouster is a 'promotion'

NationalFire Breaks Out at Gwalior Shop Due to Gas Leak; No Casualties Reported

Technology Realted Stories

TechnologyZoho CEO Sridhar Vembu has no ‘confidence in tech’, shelves $700 million chip plan

TechnologyYouTube commits Rs 850 crore to power India’s ‘Creator Nation’: CEO Neal Mohan

TechnologyApple clocks 28 pc growth in iPhone shipments in India: Industry data

TechnologyNHRC asks 11 states to boost measures to prevent heat-related deaths

TechnologyNRAI and ONDC refute speculative reports, reaffirm strong partnership