Describing the tech sector's current job cuts, Joint Venture Silicon Valley's CEO said the valley is experiencing more of an adjustment than a crisis.
"They hired so many people during pandemic, now they're questioning if this is the same momentum of the purchasing and online activity is going to continue," San Jose State engineering professor and tech expert Ahmed Banafa told ABC7 News. "Time just told us- we have seen that is not the case."
"The tech employment in Silicon Valley is actually based on three companies which is Apple and Google and Meta or Facebook," he said. "There are more companies."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SAP cutting Silicon Valley jobs - Silicon Valley Business JournalTwo weeks after the company announced it would be laying off 2.5% of its workforce, it unveiled just how many it would cut in the Bay Area.
Read more »
Silicon Valley developer ends hunger strike after eight daysHe launched a dramatic strike after the city of Sunnyvale halted his project. Now, he hopes to resume construction this week.
Read more »
Why Ouster CEO Angus Pacala thinks it will survive lidar industry shakeout - Silicon Valley Business JournalPacala spoke to the Business Journal as Ouster completed its merger with rival Velodyne — and announced a new round of layoffs.
Read more »
Minnesota developer Oppidan pitches redevelopment of aging industrial site in Fremont - Silicon Valley Business JournalThe existing warehouses, all built in the mid 20th century, were previously host to manufacturing tenants.
Read more »
Julie Kirsch to retire after leading Meriwest Credit Union for a decade - Silicon Valley Business JournalMeriwest Credit Union announced that the San Jose-based financial institution would see a change in leadership with the retirement of CEO Julie Kirsch.
Read more »
Silicon Valley layoffs hit Gen Z students, could backfire for Big TechInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »