May 12, 2016
The tech-fueled Bay Area economy might be hitting a speed bump. During the first four months of 2016, tech-firm layoffs were more than double what they were in the same period a year ago.
More than 3,100 tech jobs were lost in the four-county region of Santa Clara, San Mateo, Alameda and San Francisco. There were 1,515 Bay Area tech job losses recorded in mandatory California WARN Act filings during the first four months of 2015. More layoffs are ahead including notices of more than 700 workers.
Though the Bay Area continues to add workers, economists note the pace of hiring has slowed. The Bay Area’s total employment was 3.35 million through March, with 102,600 workers added from March 2015-March 2016.