Written by Shelley D. Fargo, SF Standard
Layoffs at San Francisco companies continue to mount. So far in 2023, 18 companies based in the city have cut nearly 12,000 workers, causing further concern about the future for the city’s innovation workforce.
While 8,000 of those jobs (752 at its headquarters) were announced last week at SF’s largest employer, Salesforce, another wave of layoff announcements took place this week, with eight firms announcing another 2,300 jobs lost since Monday.
The fallout from rising interest rates and the resulting slowing residential real estate market has pushed mortgage technology company Blend to announce its fourth round of layoffs in the past year, while Lending Club cut 225 workers.
Scale AI and crypto exchange Coinbase will together cut nearly 1,000 employees. And with venture capital funding taking a dive, Lattice and Carta—software providers that cater to startups—will also trim their headcounts.
But not all layoffs took place at tech giants. In the healthcare realm, Carbon Health and Alphabet’s Verily both cut staff. And Pacific Supermarket, a chain of Asian grocery stores, warned the state that 59 employees would lose their jobs when its Outer Mission outlet closes its doors in March.