Tech companies Lyft and Chime have revealed plans to chop more than 300 jobs in the Bay Area, fresh evidence of a severe retrenchment for the struggling sector.
The disclosures, in the form of official reports to the state’s labor agency, suggest that the waves of tech company job cuts have yet to run their course.
All told, the two companies have jettisoned a combined 379 jobs in the Bay Area.
Lyft, a ride-hailing company, disclosed that it had decided to terminate 227 jobs in San Francisco, the company told the state Employment Development Department.
Chime, an online banking tech firm, said it would cut 152 positions in San Francisco, an EDD filing showed.
These companies join an array of high-profile layoffs that have descended on the Bay Area.
Twitter in recent days eliminated nearly 900 jobs in the Bay Area. Facebook app owner Meta Platforms revealed this week that it plans to chop 11,000 jobs worldwide, or 13% of the workforce at the reeling social network.
In their respective WARN notices, both Lyft and Chime described the job cuts as “permanent,” according to the letters sent to the EDD.
Lyft’s layoffs were slated to occur in two stages, on Nov. 11 and on Nov. 30, the company’s WARN letter stated.
The Chime job cuts were due to begin on Jan. 2, 2023, and be complete by Jan. 25, 2023, the company said in its WARN notice to the EDD.
Source: www.mercurynews.com