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FUCkT companies have paused hiring in the Bay Area
invite response
2022 May 24, 3:56pm 14,094 views 76 comments
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73
EBGuy
2022 Dec 9, 3:06pm
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.
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.
74
EBGuy
2023 Jan 4, 9:35pm
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.”
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.”
75
BayArea
2023 Jan 4, 9:37pm
BayArea
2023 Jan 4, 9:37pm
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
We went from can’t hire enough, to hiring freeze, to layoffs in a matter of 6mo
76
EBGuy
2024 Sep 20, 12:46am
Cisco's huge layoff round slams Bay Area offices, more than 800 workers cut
When the San Jose tech giant first shared news of the cuts, alongside its $10.3 billion yearly profit, the company said it’d be slashing 7% of its huge workforce. Per the Sept. 13 WARN filings, which are generally required in the event of mass layoffs, more than 840 of the layoffs are planned for the Bay Area. It’s unclear if these cuts will complete the layoff round.
According to the WARNs, 563 workers assigned to a San Jose office are set to lose their jobs, as well as 145 in Milpitas and 134 in San Francisco. Seventeen vice presidents and five senior vice presidents are on the list, as are slews of directors, managers, analysts and engineers.
When the San Jose tech giant first shared news of the cuts, alongside its $10.3 billion yearly profit, the company said it’d be slashing 7% of its huge workforce. Per the Sept. 13 WARN filings, which are generally required in the event of mass layoffs, more than 840 of the layoffs are planned for the Bay Area. It’s unclear if these cuts will complete the layoff round.
According to the WARNs, 563 workers assigned to a San Jose office are set to lose their jobs, as well as 145 in Milpitas and 134 in San Francisco. Seventeen vice presidents and five senior vice presidents are on the list, as are slews of directors, managers, analysts and engineers.
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Here is a list of San Francisco and Silicon Valley tech companies that have halted hiring. This list may be updated.
Facebook
Uber
Coinbase
Twitter
https://www.sfgate.com/bayarea/article/biggest-tech-companies-pause-hiring-17185591.php?IPID=SFGate-HP-CP-Spotlight