Recent job cuts in the Bay Area have emerged as news reaches the Lockheed Martin visitor center at 1111 Lockheed Martin Way in Sunnyvale. Lockheed Martin, Coherent, a semiconductor company, and Hinge Health, a tech company providing online physical therapy, have announced plans to lay off a total of over 200 employees.
On June 10th, Lockheed Martin will cut 68 jobs in Sunnyvale and Palo Alto. Coherent will eliminate 61 positions in Santa Clara on the same day. Hinge Health plans to slash 77 jobs in San Francisco on June 11th. All three companies have described these job cuts as permanent.
The recent layoffs add to the growing trend of job reductions in the tech industry in the region. In April alone, tech companies disclosed plans to eliminate 949 jobs in the Bay Area, including Apple’s announcement of 614 layoffs in Santa Clara. These April layoffs exceeded the number of job cuts reported in March but were lower than the significant number of jobs cut in January and February of this year.
Since the beginning of 2022, tech companies in the Bay Area have revealed plans to cut more than 38,800 jobs. These recent layoffs are part of a larger trend that has seen job reductions across various sectors of the technology industry throughout the region.
