LIVERMORE — Tech companies have cut hundreds more jobs in the Bay Area, impacting workers in the East Bay and Peninsula. However, there are some encouraging signs that suggest the rate of job reductions has slowed down.
Thermo Fisher Scientific and Jabil have both announced plans to cut over 100 jobs each, as stated in filings with state officials.
Combined, the two companies have disclosed their intention to eliminate a total of 215 jobs, according to WARN notices filed with the state Employment Development Department.
Jabil will be eliminating 113 jobs in Livermore and Fremont.
Thermo Fisher Scientific is cutting 102 employees in Pleasanton and South San Francisco.
From 2022 to the present year, tech companies have disclosed intentions to cut just over 26,500 jobs in the Bay Area, as per this news organization’s analysis of the official WARN notices received by the state EDD.
Within the first seven months of 2023, tech companies have announced plans to eliminate around 16,100 jobs in the Bay Area.
However, there is a potentially positive trend, as 10,100 of those job cuts occurred within the first three months of 2023. In the second quarter of April to June, tech companies cut a significantly smaller number of jobs, around 5,200 in the Bay Area.
In July, tech companies announced intentions to eliminate 755 tech jobs, which could potentially result in a range of 2,200 to 2,400 lost jobs for the entire third quarter, considering the three-month period from July to September.