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FUCkT companies have paused hiring in the Bay Area


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2022 May 24, 3:56pm   12,013 views  75 comments

by EBGuy   ➕follow (0)   💰tip   ignore  

So as murmurs of the second dot-com bubble bursting grow louder, the Bay Area’s dominant industry is taking notice — and its most visible players are cutting back. Many of San Francisco’s and Silicon Valley’s tech companies — ranging from flagship social media brands to nascent startups — are struggling. Brands that had hiring booms in the past two years now face mass layoffs, while even industry titans are grappling with stagnated growth and stalled hiring.
Here is a list of San Francisco and Silicon Valley tech companies that have halted hiring. This list may be updated.

Facebook
Uber
Coinbase
Twitter
https://www.sfgate.com/bayarea/article/biggest-tech-companies-pause-hiring-17185591.php?IPID=SFGate-HP-CP-Spotlight

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1   Eric Holder   2022 May 24, 3:58pm  

HOW ARE THESE RSUS GOING NOW?!!!
2   Booger   2022 May 24, 5:19pm  

EBGuy says
Facebook
Uber
Coinbase
Twitter


Stop referring to websites as "technology".
3   Ceffer   2022 May 24, 5:39pm  

They'll have to wait until the vaccine carnage starts tolling to start hiring again.
4   mell   2022 May 24, 6:51pm  

Booger says

EBGuy says
Facebook
Uber
Coinbase
Twitter


Stop referring to websites as "technology".

This
5   Patrick   2022 May 24, 6:56pm  

Lol, it's true. Websites are not particularly difficult to create or maintain.
6   EBGuy   2022 May 26, 2:18pm  

PayPal lays off 83 San Francisco Bay Area employees
PayPal gave pink slips to 83 employees at its San Jose headquarters last month, a filing with California's Employment Development Department shows.
...
The digital payment firm is shuttering its San Francisco office at 425 Market Street at the end of the month; the closure is unrelated to the layoffs.
7   clambo   2022 May 27, 9:32am  

The purpose of Coinbase is to enrich the guys who started it.

They richly deserve to go the way of the DoDo bird.
8   FortwayeAsFuckJoeBiden   2022 May 27, 5:24pm  

Booger says

EBGuy says
Facebook
Uber
Coinbase
Twitter


Stop referring to websites as "technology".


facebook is just patrick.net with better css and lots of privacy invasion as far as im concerned. also Zuckerberg likes cock.
9   EBGuy   2022 May 28, 12:01am  

Bolt, the San Francisco startup with permanent 4-day workweek, lays off nearly a third of its employees
The San Francisco tech startup that helped popularize a push for a four-day workweek in Silicon Valley, is now laying workers off.
As first reported by the New York Times, Bolt, the payment services startup with offices near San Francisco’s Union Square, laid off around 250 of its around 900 employees Wednesday in a move to “secure our financial position, extend our runway, and reach profitability with the money we have already raised” amid industrywide financial challenges, according to a letter to staff.
10   richwicks   2022 May 28, 12:05am  

FortwayeAsFuckJoeBiden says
facebook is just patrick.net with better css and lots of privacy invasion as far as im concerned. also Zuckerberg likes cock.


That is PRECISELY what it is, without the bots, less glowies (I think there are intelligence assholes here), and a lot less propaganda, and more human beings and very little if any censorship and no political censorship.

I have good confidence when I write a person here, I'm talking to a real, actual human being. There's a bit of a learning curve to use this rather than Facebook, but it's hardly a much of a learning curve.
11   EBGuy   2022 Jul 22, 2:09pm  

Beer giant Anheuser-Busch selling Bay Area distribution center, laying off 142
Also...
On Monday, Bay Area frozen foods company Amy's Kitchen also announced the impending closure of a factory. Its San Jose production plant will close sometime in September, reported the Mercury News. Amy's acting CEO cited inflation, supply chain issues and labor shortages as the reasons behind the closure, although the company has also been in the midst of a labor dispute.
Earlier this year, workers at the Santa Rosa Amy's factory filed a complaint with the California Division of Occupational Safety and Health. They alleged "unrelenting managers, poor working conditions and demanding production mandates," SFGATE reported in January.


Lyft, headquartered in San Francisco, lays dozens off, shutters division
12   EBGuy   2022 Jul 22, 6:50pm  

From last week...
San Francisco-based Peloton rival Tonal lays off more than a third of its workforce
Tonal, a fitness tech startup and direct rival to Peloton headquartered in San Francisco, announced Wednesday that it would be laying off a third of its staff.
A company spokesperson confirmed to SFGATE that its “strategic restructuring” would result in a 35% reduction of company staff across all corporate departments, news that was revealed by CEO Aly Orady during a company all-staff meeting Wednesday morning.
13   EBGuy   2022 Jul 29, 5:50pm  

San Francisco genetic tech company Invitae will lay off 1,000 employees, including over 700 local employees
Invitae, a San Francisco-based genetic tech company, announced it is laying off more than 700 employees at its headquarters.
The layoffs at Invitae are part of a larger corporate restructuring in which more than 1,000 employees, constituting roughly a third of the company's staff, are set to be laid off over the next year. Invitae announced the “realignment” on July 18 after it was approved by the company’s board of directors two days prior.
14   Ceffer   2022 Jul 29, 5:52pm  

I remember in the great tech meltdown of 2001, we would call clients and they would be in different parts of the country. Laid off and moved to new job markets.
15   Onvacation   2022 Jul 29, 7:23pm  

Anyone old enough to remember FuckedCompany.com?


Fucked Company was a website created by Philip J. "Pud" Kaplan after the dot-com bubble in 2000 as a "dot-com dead pool" that chronicled troubled and failing companies in a unique and abrasive manner. The website also sold rumor listings to subscribers.
Wikipedia

It was fun reading about real-time "inside" information about all the companies that were failing.
16   Misc   2022 Jul 29, 7:35pm  

I still liked the Implodemeter from the Housing bubble pop.
17   EBGuy   2022 Aug 10, 4:26pm  

Nutanix, Bay Area unicorn tech startup once valued at $2B, laying off 270 employees
A Bay Area cloud tech startup once valued at more than $2 billion, has laid off 270 employees.
Nutanix, an enterprise cloud software firm headquartered in San Jose, announced the layoffs — which comprise 4% of the company’s more than 6,000 staffers globally — in an SEC filing dated Tuesday.
The layoffs will cost the company up to $25 million this quarter, Nutanix said in the filing. The layoffs come after “a careful review of our business structure and after taking other cost-cutting measures to reduce expenses,” a Nutanix spokesperson told SFGATE.
18   EBGuy   2022 Aug 12, 2:33pm  

Calm, trendy wellness startup ‘unicorn’ headquartered in San Francisco, lays off a fifth of staff
Calm, the meditation and relaxation tech startup featuring a medley of celebrity voices, has laid off a fifth of its staff. The company is headquartered in San Francisco and employs around 400 people, the Wall Street Journal reported.
The affected employees were laid off Thursday, a company spokesperson told SFGATE. Laid-off employees were notified in one-on-one meetings, according to a company-wide message.
“While some of you will be impacted, all of you will be affected,” Calm CEO David Ko said in the message Thursday. “I can assure you that this was not an easy decision, but it is especially difficult for a company like ours whose mission is focused on workplace mental health and wellness.”
19   EBGuy   2022 Sep 13, 6:08pm  

San Francisco tech unicorn Patreon lays off nearly 20% of staff
The San Francisco tech company Patreon announced mass layoffs to the tune of nearly a fifth of its staff. In a message sent to staffers and posted publicly Tuesday morning, CEO Jack Conte announced that 17% of Patreon staff — around 80 of its 470 staffers — will be laid off across departments, including sales, finance and operations staffers. A spokesperson confirmed the layoffs to SFGATE but declined to provide further comment. “Over the last 9 months, we’ve seen the tech industry — and the whole economy — change considerably,” Conte said in the message. “Many of you have asked me about layoffs at All Hands meetings as we’ve set out to tighten our focus, and I’ve said that layoffs would be a last resort. Today we are taking that step, and I am deeply sorry to the kind, talented, creator-first people who will be leaving Patreon.” In addition to the 80 people laid off Tuesday, the company confirmed a TechCrunch report from last week that five employees in the company’s security department will also be laid off. As a result of these layoffs, the company will be shuttering its offices in Dublin and Berlin.
20   EBGuy   2022 Sep 14, 3:00pm  

Massive San Francisco tech company Twilio lays off about 800 staffers
Twilio, a corporate communications tech giant headquartered in San Francisco, has laid off 11% of its staff as part of a broader company restructuring — a move that could eliminate more than 800 employees. The restructuring was approved by the company’s board of directors Monday, according to a SEC filing published Wednesday, as first reported by CNBC. In total, the company employed 7,867 people as of December 2021. (A Twilio spokesperson declined to provide a current employee headcount.)...
Twilio is a cloud communications company, providing messaging systems for businesses like Lyft, Netflix and Airbnb.
21   Patrick   2022 Sep 14, 3:20pm  

I'm proud to say that patrick.net has never had any layoffs!
22   Al_Sharpton_for_President   2022 Sep 14, 3:34pm  

Twilio Customer Engagement Platform
Data-driven customer engagement—at scale
Twilio powers personalized interactions and trusted global communications to connect you with customers.
Sign up and start building
https://www.twilio.com/

Not sure what they do, but someone is buying it.

$3.4 billion in revenue but $4.45 billion in total expenses. And the market cap is $14.3 billion.
24   Ceffer   2022 Oct 7, 9:19am  

Patrick says


I'm proud to say that patrick.net has never had any layoffs!

You forgot your one ignore. You have been fired at least once.

Still cracks me up.
25   EBGuy   2022 Oct 13, 4:05pm  

Oracle layoffs impact over 200 Bay Area employees
About 200 Oracle employees are out of a job, according to a notice from Oracle to the California Employment Development Department.
All employees worked at the former headquarters in Redwood City, now based in Austin, Texas. Jeff Bellisario, Bay Area Council Economic Institute executive director, said he was not surprised by the news.
“What this is though is another in a line of companies, announcing layoffs or announcing hiring freezes within our region so I think while we’re not at a wave of layoffs or recession, I think this is a sign companies are now planning for recession, planning for slower growth, and they’re doing that by reducing the labor cost,” said Bellisario.
26   Booger   2022 Oct 13, 4:07pm  

Those are probably the ones who wouldn't move to Texas.
27   AD   2022 Oct 13, 6:37pm  

Is Facebook actually reducing its number of employees or head count or is it all bullshit about them streamlining ?

How about Google and Apple also ?

.
28   EBGuy   2022 Oct 14, 3:40pm  

Pacaso, SF unicorn startup for 'second home ownership,' lays off 30% of staff
A real estate tech “unicorn” headquartered in San Francisco has laid off nearly a third of its staff, about 100 employees.
Pacaso, a property tech (or “proptech”) startup that promises “second home ownership” at a fraction of the cost in a model not entirely dissimilar to timeshares (and fellow real estate startup unicorn Sonder), has cut its staff by 30%, attributing the layoffs to larger economic headwinds. The news was first reported by real estate news site Inman.
29   Al_Sharpton_for_President   2022 Oct 16, 5:02am  

Some of you might have heard the news that some of our Shopee teams were affected by adjustments yesterday. As a result, we have to part ways with very talented individuals who have contributed to Shopee’s growth.

"adjustments"

Hi Honey, why are you home early today?
Well Dear, I got adjusted today.
31   BayArea   2022 Oct 16, 6:32am  

The original article above is 4mo old and the situation is many times worse today than it was in June
32   HeadSet   2022 Oct 16, 9:47am  

BayArea says

Intel laying off thousands

https://www.bloomberg.com/news/articles/2022-10-11/intel-is-planning-thousands-of-job-cuts-in-face-of-pc-slowdown

I am looking at Intel as a possible stock buy. Just waiting for when I think it will finish its long decline.
33   AD   2022 Oct 16, 1:37pm  

HeadSet says


I am looking at Intel as a possible stock buy. Just waiting for when I think it will finish its long decline.


AMD needs to cut its workforce also. Its down about 67%.

Intel is down about 62% from its all time high set in early 2021.

I was thinking about buying Intel at $24 which is price it set in April 2010.

April 2010 is what I consider as when the stock market reversed its downward trend and the economy started its recovery.

AMD's CEO Lisa Su is right these are cyclical or roller coaster stocks when he said running AMD is like running a different company every 2 years. I am glad AMD has diversified some of its product lines. https://fortune.com/2022/10/11/amd-ceo-lisa-su-china-chip-restrictions-mpw-summit/

.
34   EBGuy   2022 Oct 17, 9:24pm  

HelloFresh announces mass layoffs, closure of Bay Area production facility
HelloFresh, a Berlin-based company once considered to be the largest meal kit provider in the nation, has announced plans to shut down its huge Bay Area production facility at the end of the year and will subsequently lay off more than 600 employees.
A letter to the California Employment Development Department, dated Oct. 10, relayed the company’s decision to permanently close the plant on Dec. 11, which will result in the termination of 611 employees, including production associates, managers, and maintenance personnel, according to reports from the San Francisco Business Times and MarketWatch. HelloFresh was required to notify its staff 60 days in advance of the closure per the California WARN (Worker Adjustment and Retraining Notification) Act.
A spokesperson for HelloFresh told SFGATE the company’s lease was set to expire at the beginning of 2023 and opted not to extend it after an “extensive analysis” of its production network.
“Richmond is one of the oldest buildings in the U.S. network and has one of the smallest footprints, an inefficient layout and outdated refrigeration systems,” the statement read. “Given the outdated state of the facility, HelloFresh will focus its efforts on its newer, more efficient sites and shift the production of EveryPlate to our other distribution centers."
35   Patrick   2022 Oct 17, 9:40pm  

HeadSet says

I am looking at Intel as a possible stock buy. Just waiting for when I think it will finish its long decline.


Wow, it never recovered back to its peak price in 2000:



Great dividend, but maybe that implies that people think the stock price will fall more.
36   BayArea   2022 Oct 17, 9:53pm  

Intel stock SUCKS
37   1337irr   2022 Oct 17, 10:20pm  

Patrick says

HeadSet says


I am looking at Intel as a possible stock buy. Just waiting for when I think it will finish its long decline.


Wow, it never recovered back to its peak price in 2000:



Great dividend, but maybe that implies that people think the stock price will fall more.

I haven't looked at INTC financials but they are doing some serious capital planning and might cut the dividend because of declining revenue. Check out CPT, AZZ, HD or APD. They have good dividends and business models.
38   AD   2022 Oct 17, 11:16pm  

Patrick says

Wow, it never recovered back to its peak price in 2000:


Yeah those were the boom days for computer related stocks

Other companies like Blackberry, Ford, IBM, GE, and Cisco are still below their all time highs set around late 1999.

Check at Citigroup:

April 1993: $45
Sept 2000: $577
Feb 2009: $20
current price: $43.59 (dividend 4.39% and P/E of 5.97)

.
.
39   AD   2022 Oct 17, 11:18pm  

BayArea says

Intel stock SUCKS


Its a roller coaster or very cyclical stock

If I buy Intel at $24 then I'll sell in the money (or at the money) covered calls that expire weekly

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