Tech company layoffs are poised to eliminate hundreds of jobs in the Bay Area, an ominous new round of layoffs that might jolt the region’s primary economic engine.
Malwarebytes, Shift Technologies, Robinhood Markets and Rivian Automotive have notified the state’s labor agency that they have embarked on cutbacks that are slated to jettison about 450 jobs in the Bay Area, according to official notices filed with the government.
— Robinhood Markets, a financial services tech company, or fintech, is cutting 146 jobs in Menlo Park, the city where Robinhood is based. These layoffs have arrived at a time when multiple tech titans, including Google, Amazon, Facebook app owner Meta Platforms, Netflix and Apple have revealed plans to slow down their pace of hiring. Amazon and Netflix, however, each have launched actual job cuts.Los Gatos-based Netflix has chopped about 500 jobs this year, including full-time workers, part-timers and contractors. The Netflix layoffs include a loss of slightly more than 100 jobs in Los Angeles.
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