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California Business Exits Soared in 2021, and There Is No End in Sight

In 2021, California business headquarters left the state at twice their rate in both 2020 and 2019, and at three times their rate in 2018. In the last three years, California lost eleven Fortune 1000 companies, whose exits negatively affect California’s economy today

https://www.hoover.org/research/california-business-exits-soared-2021-and-there-no-end-sight

For amusement, jump to page 32, Appendix "A" for a list of Company Headquarters that Left California Jan 1, 2018 through Dec. 31, 2021, It shows where they were located and where they relocated to:

https://www.hoover.org/sites/default/files/research/docs/21117-Ohanian-Vranich-4_0.pdf

Zendesk to lay off 5% of staff, including employees at San Francisco HQ
Zendesk is reportedly close to laying off 5% of its staff, including around 84 employees in California. As several tech companies have executed mass layoffs in recent weeks, the software company’s impending termination of around 350 employees in total may seem paltry, but it’s yet another sign of a struggling tech sector.

Salesforce, San Francisco's largest employer, lays off hundreds
On Monday, Salesforce laid off hundreds of employees, the San Francisco tech giant’s second round of layoffs this year. It follows an earlier round in October, when 90 people — primarily contract workers in the recruiting department — lost their jobs.

Mark Zuckerberg said today "he was wrong" as far as managing Meta's finances and announced layoffs of 13% of its workforce.

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Cisco is planning a $600M restructuring that will include cutting 5% of its staff and downsizing its real estate
Cisco Systems Inc. plans to cut about 5% of its staff — about 4,165 employees — and shrink its real estate, the networking giant announced Wednesday.
The San Jose-based company is undertaking a "limited" restructuring, spokeswoman Robyn Blum said in an emailed statement. Despite the job cuts, Cisco has open positions and expects its workforce to be about the same size at the end of its fiscal year as it was at the beginning of it, she said. The company employed 83,300 full-time workers at the end of July at the close of its last fiscal year, according to its annual report.
"This decision was not taken lightly, and we will do all we can to offer support to those impacted," Blum said in the statement.
Blum did not immediately respond to questions about where Cisco plans to cut jobs or shrink its real estate.
The company has a significant presence in North San Jose and was one of the first major tech companies to establish a base in that section of the city. Even though it has been selling off some of its real estate holdings over the last several years, Cisco's headquarters and surrounding buildings take up more than 3.5 million square feet of space — making it the largest office campus in Silicon Valley, according to Business Journal research.
As part of Cisco's restructuring, the company expects to recognize $600 million in charges in coming quarters related to severance and real-estate costs, it said in a document filed with the Securities and Exchange Commission.

Wonder if they're doing a rank and yank to pick up newly available talent. Tis the season...

Bored ? Amuse yourself on the link below for the latest layoff news. Select from Global or U.S., Tech or Non Tech - fun for the entire family and no political ads !

https://layoffstracker.com/

right after elections too, collusion at its finest. they knew well ahead if time.

ad says

Mark Zuckerberg said today "he was wrong" as far as managing Meta's finances and announced layoffs of 13% of its workforce.

Meta's H-1B layoffs challenge visa holders and U.S. workers

[Laid-off H-1B workers have] virtually no bargaining power with prospective employers. And [they] will make huge sacrifices just to stay in the country legally.
Ron Hira - Associate professor of political science, Howard University

https://www.techtarget.com/searchhrsoftware/news/252527158/Metas-H-1B-layoffs-challenge-visa-holders-and-US-workers

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See above where it says more remote workers are going to be called back into the office. That may effect work-from-home renters in locations like Boise and Miami Beach.

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Google looks to shed 10,000 ‘poor performing’ workers: report

https://www.marketwatch.com/story/google-looks-to-shed-10-000-poor-performing-workers-report-11669222278?mod=home-page

Booger says

Makes no sense: less coders in the office also means less need for plumbers' services.

RWSGFY says

Makes no sense: less coders in the office also means less need for plumbers' services.

That is twitter in that meme - the plumber was called by Musk to get rid of all the backed-up shit.

DD214 says

Google looks to shed 10,000 ‘poor performing’ workers: report

https://www.marketwatch.com/story/google-looks-to-shed-10-000-poor-performing-workers-report-11669222278?mod=home-page

Zuckerberg admitted fault as far as running Meta when he announced layoffs of 13% of the company workforce. Also before the layoff annoucement, I read they were cutting back expenses like perks for employees and reduction of shuttle services.

Google was bound to do the same for layoffs as Meta, Amazon, and other tech companies.

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DoorDash Is the Latest Bay Area Tech Giant To Lay Off Staff
Add DoorDash to the growing list of tech companies conducting layoffs amid a harsh economic climate.
In a note to employees, DoorDash CEO Tony Xu said the food delivery company was cutting some 1,250 jobs—around 6% of its workforce—citing growing costs and declining growth due in part to inflation. DoorDash stock rose around 5% on the news.
Xu wrote that although “the business remains strong and continues to grow,” the rapid hiring the company undertook during the pandemic needed to be scaled back.
“Most of our investments are paying off, and while we’ve always been disciplined in how we have managed our business and operational metrics, we were not as rigorous as we should have been in managing our team growth. That’s on me,” he wrote.
The job cuts include 311 employees in DoorDash’s San Francisco offices, according to a state filing. Seventy-five DoorDash employees based in Los Angeles will also be let go.

EBGuy says

The job cuts include 311 employees in DoorDash’s San Francisco offices, according to a state filing. Seventy-five DoorDash employees based in Los Angeles will also be let go.

Get rid of the dead weight like the Woke warriors and blue hairs.

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RWSGFY says

Makes no sense: less coders in the office also means less need for plumbers' services.

Learn an in demand skill is what it means.

Booger says

RWSGFY says

Makes no sense: less coders in the office also means less need for plumbers' services.

Learn an in demand skill is what it means.

Since when coding is not in demand skill?

San Francisco tech unicorn Airtable lays off a fifth of staff as multiple execs exit
The San Francisco-based tech decacorn Airtable laid off about a fifth of its staff Thursday — alongside the exit of at least three top executives.
According to an internal memo posted on the company’s website, Airtable laid off 254 employees as a move to “evolve our organizational structure.”

San Francisco tech ‘decacorn’ Plaid lays off a fifth of staff
The wildly successful San Francisco financial tech startup Plaid has laid off 260 employees — about 20% of its staff.
In a letter to employees publicly posted Wednesday, Plaid CEO Zach Perret explained that the layoffs come after a post-COVID-19 “dramatic increase in fintech adoption, at a pace that was well beyond what we predicted.”
“The simple reality is that due to these macroeconomic changes, our pace of cost growth outstripped our pace of revenue growth,” Perret explained in the letter.

Salesforce, San Francisco’s largest private employer, lays off 10% of staff
In the first major blow in 2023 to the tech industry, Salesforce — San Francisco’s largest private employer — is laying off about a tenth of its staff, a reduction that could potentially mean the loss of over 7,000 jobs globally in the next few weeks.
The layoffs were announced early Wednesday morning in a SEC filing and in a letter to employees from Salesforce CEO Marc Benioff dated Wednesday. It is unclear if any employees at Salesforce’s subsidiaries, including Slack, are affected.
“I’ve been thinking a lot about how we came to this moment,” Benioff said in the letter addressed to Salesforce’s “ohana.” “As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that.”

Not only have they paused hiring but they are laying off

We went from can’t hire enough, to hiring freeze, to layoffs in a matter of 6mo