Tech companies and big bank slash hundreds more Bay Area jobs

By Chinua Achebe On Oct 28, 2023

SAN RAMON — Tech companies and a big bank have slashed hundreds more jobs in the Bay Area, unsettling revelations that arrive on the heels of monthly job losses in the once-robust region.

Roku, Bloom Energy and BMO have revealed plans to chop a total of 411 jobs in the Bay Area, according to official notices filed with the state labor agency.

With the layoffs by streaming video giant Roku and green technology firm Bloom Energy, an additional 183 tech jobs are being cut.

Here are the details for the latest job cuts in the Bay Area as detailed in WARN notices sent to the state Employment Development Department (EDD):

— BMO, which conducted the layoffs after it bought Bank of the West, has decided to slash 228 jobs in the Bay Area. These include 200 job cuts in San Ramon and another 28 in San Francisco. The staffing reductions are slated to occur on Dec. 8.

— Roku, which has orchestrated three distinct rounds of layoffs, including one batch in 2022 and two events in 2023, told the EDD it would cut 136 jobs in San Jose. Roku said the staff reductions would occur on or around Nov. 21. The Roku WARN notice detailed the local impact of previously announced company layoffs.

— Bloom Energy disclosed plans to eliminate the jobs of 47 of its own employees. The company also is cutting the positions of 50 contractors who were on assignment from staffing agencies. The Bloom job cuts were effective on Sept. 16, although the EDD didn’t post the WARN notice until Oct. 23.

The three companies described their respective layoffs as “permanent,” the various WARN letters state.

With the latest rounds of tech layoffs, tech companies have told the state EDD of their decisions to chop well over 29,100 jobs in the Bay Area over a nearly two-year period starting in January 2022.

During September, the Bay Area lost 5,200 jobs and now has shed 9,600 jobs over the last three months, the EDD reported recently.

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