Bay Area tech layoffs jumped during the last three months.
Bay Area tech layoffs jumped during the last three months and soared to their highest quarterly totals in over a year, an ominous sign the crucial sector’s wrenching cutbacks have yet to run their course.
A vehicle with a Moxion Power logo is parked in front of the company’s site at the Ford Point office, research, retail and industrial complex in Richmond. The 7,062 tech industry layoffs during the second quarter of 2024 represented the most job cuts for the industry in this region for a three-month segment since the January-through-March period of 2023, the review of the state WARN notices shows.
Here are the details of the latest layoffs in the tech industry, based on WARN notices sent to the state:— Moxion Power, a green energy and battery firm, 101 layoffs in Richmond.— Lockheed Martin Space, a satellite technology and defense contractor, 68 job cuts in Sunnyvale.— Thought Stream, a software company doing business as Bluescape, 35 staff reductions in Redwood City.
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