Tech companies have chopped 400-plus more Bay Area jobs in a fresh round of staffing reductions that show the wobbly industry continues to scout for ways to become more efficient.
AMD, Xilinx, AppLovin, Equinix, Coursera and EringKlinger are among the most recent tech companies to disclose plans to eliminate jobs in the Bay Area, according to official notices the firms have filed with the California labor agency.
AMD sign is visible near the company’s headquarters on Augustine Drive in Santa Clara. (Google Maps)
The most recent disclosures of staffing cutbacks are affecting the jobs of 424 workers in the Bay Area, the WARN notices filed with the state Employment Development Department show.
Here are some details of the most recent staffing reductions that companies have revealed that affect their Bay Area workers, according to the WARN notices on file with the state EDD. The financials for publicly held companies were obtained from the Yahoo Finance site:
— AppLovin, a mobile technology company, 120 job cuts in Palo Alto. The layoffs were scheduled for Nov. 15. Over the one-year period that ended in September, the company earned $1.15 billion on revenue of $4.29 billion.
— Equinix, an Internet services and data center firm, 87 staffing reductions in Redwood City. The cutbacks are slated to occur Dec. 15. Over the 12 months that ended in September, Equinix earned $1.06 billion on revenue of $8.4 billion.
— Xilinx, a semiconductor company and AMD subsidiary, 72 layoffs in San Jose. The reductions are scheduled for Jan. 13, 2025.
— AMD, a chipmaker that in 2022 bought Xilinx for $50 billion, 57 job cuts in Santa Clara. The layoffs are due to occur on Jan. 13 of next year. Over the year-long period that ended in September, the company earned $1.83 billion on revenue of $24.3 billion.
— Coursera, a provider of online education services, 61 layoffs in Mountain View. The cutbacks are scheduled for Jan. 6, 2025. The staffing reductions occurred “due to an economic restructuring that is necessary for the long-term health of the company,” Coursera stated in its WARN letter. Over the one-year period that ended in September, Coursera lost $78.3 million on revenue of $684.4 million.
— ElringKlinger, a maker of advanced components and devices for the automotive and clean battery industries, 27 job cuts in Fremont. The cutbacks are scheduled to occur Jan. 6, 2025. During the 12 months that ended in June, the company earned $53.4 million on revenue of $1.8 billion.
In 2020 and 2021, tech companies launched a hiring spree to meet soaring demand for products and services to enable people to work and learn at remote sites or from home.
But that demand faded, which prompted the tech industry to slash their staffing levels. Plus, tech companies shifted resources to chase promising opportunities in artificial intelligence, green energy, cybersecurity, financial tech services and renewable energy.
In 2022, 2023 and 2024, tech companies have revealed plans to chop more than 48,900 jobs in the Bay Area, this news organization’s assessment of hundreds of WARN notices shows.