Bay Area tech and biotech companies have recently revealed plans to chop thousands of jobs, layoffs that raise the specter that these cutbacks might haunt the region’s broader economy.
Facebook app owner Meta Platforms is the latest Bay Area tech company that’s thought to be mulling massive job cuts, representing a grim follow-up to the staffing reductions already being undertaken by several other tech or biotech companies in the nine-county region.
Among the high-profile tech and biotech companies cutting jobs: Twitter; Facebook’s owner; Cepheid; Oracle; Lyft; Stripe; Astreya, which profits tech services to Facebook; Zymergen; and BioMarin Pharmaceutical.
The impacts, already wrenching for the individual workers affected in the Bay Area and elsewhere, could spill over into the region’s economy generally, some experts warn.
“Tech is one of the engines of the Bay Area economy,” said Patrick Kallerman, vice president of…
