Golden Gate Fields, Genentech and Intel are among the latest high-profile employers to disclose plans to chop Bay Area jobs soon, disquieting new revelations that hint at a wobbly regional economy.
More than 1,000 jobs are being lost in the Bay Area as a result of the latest staffing reductions that companies are disclosing in official notices they sent to the state Employment Development Department.
This time around, the vast majority of the layoffs are not in the tech industry, a sector that has been trimming jobs at an elevated pace for more than two years.
Even so, chipmaker Intel and electric vehicle charging firm Volta are among the latest tech companies that revealed plans for staffing reductions in the Bay Area, according to the public posts on the EDD website.
Here are some details for the latest job cuts affecting workers in the Bay Area, based on the EDD posts:
— Golden Gate Fields, whose parent is Pacific Racing Association is chopping 203 jobs in Berkeley at the racetrack. These are part of a “permanent closure” at that site. The layoffs are due to occur around June 9.
— Genentech, a biotech behemoth, is slashing 436 jobs in South San Francisco. These cuts are permanent and are scheduled for June 5.
— Intel, a semiconductor titan, is cutting 62 jobs, all in Santa Clara, including at the tech company’s headquarters.
— Volta, which operates a network of electric vehicle charging stations, is chopping 68 jobs as part of its permanent closure of a San Francisco facility. The charging stations often include large digital screens that provide advertising. In 2023, a unit of energy leviathan Shell announced it had struck a deal to buy Volta.
— Sanofi, a France-based pharmaceutical company, is cutting 100 jobs in South San Francisco as part of a permanent shutdown of the operations in that city of a company Sanofi bought in 2022. The closure is scheduled for June 2.
A new jobs report scheduled to be released later in April could shed a clearer light on the status of the Bay Area job market.
In 2022, 2023 and so far in 2024, tech companies have revealed plans to slash more than 38,600 jobs in the Bay Area.
