Intel, Walmart, other tech companies reveal 500-plus Bay Area job cuts
Intel, Walmart, Renesas and Boston Scientific disclosed plans that will affect 567 jobs in the Bay Area, according to official notices the organizations sent to the state Employment Development Department.
The layoffs extend what is shaping up as a rough 2025 for the tech industry in the region.
Some of the staffing reductions already have taken place, while others are scheduled to occur in July or August, WARN letters show.
Walmart plans to eliminate 381 jobs on Aug. 22 at a tech hub on West California Avenue near Sunnyvale’s Caltrain station.
Intel will have 107 layoffs at multiple Santa Clara locations. The cuts are scheduled to occur July 15. The company has been warning of its intentions to eliminate up to 20% of its workforce, potentially affecting 10,000 or more workers worldwide.
Renesas, a semiconductor company that had been in expansion mode until recently, made 56 staffing reductions on May 12 that affected workers in San Jose and Milpitas.
Boston Scientific has scheduled 23 job cuts in Sunnyvale for Aug. 2.
The companies all described the job cuts as “permanent,” according to WARN letters.
The recent layoffs come on the heels of other job losses for the tech industry in the Bay Area, with the San Francisco metro region taking the most brutal hit in the most recent EDD jobs report.
Of the 3,200 jobs tech employers slashed during May, the San Francisco-San Mateo region lost 2,400. The East Bay shed 400 and the South Bay lost 200. The numbers were derived from a seasonally adjusted assessment that Beacon Economics produced, using the EDD monthly report as the data source.
Some experts believe tech companies are adding jobs in some segments of their businesses even as they chop jobs in others. That might be the case with the Walmart layoffs, based on some of the information Walmart provided in its WARN letter to the state EDD.
“Walmart is reshaping some teams in our Global Tech and Walmart U.S. organizations where we have identified opportunities to remove layers and complexity, speed up decision-making, and help associates innovate rapidly,” Maren Waggoner, a Walmart chief people officer, wrote in the WARN notice.
The company told the EDD that Walmart is hiring at the same time it is cutting workers.
“We are eliminating roles as well as opening some new roles aligned with our business priorities and growth strategy,” Walmart stated in the WARN notice.
The company recently signed a lease for office space in Sunnyvale. The deal followed Walmart’s opening of a new Sunnyvale campus near the site.
Walmart also held open the possibility that some workers whose jobs are being cut could find employment elsewhere within the company.
“We do not expect all impacted associates to experience employment loss due to this event,” Walmart told the EDD in the WARN letter. “We anticipate that many impacted associates will relocate or continue employment in a new position within the company. All affected associates can apply for open positions at other company facilities.”
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