Bay Area Tech and Biotech Sectors Face Massive Layoffs Amid Industry Slump
The Bay Area tech and biotech sectors are experiencing significant layoffs, with Intel, Ghost Autonomy, Checkr, and Boehringer Ingelheim announcing job cuts. Additionally, Genentech terminated a $3 billion cell therapy pact with Adaptimmune amid its own staff reductions. Over 500 job cuts were announced at two major Bay Area biotech firms, contributing to the 60,000 tech layoffs reported so far in 2024. Experts attribute the slump in the tech industry to the rise of AI and the impact of the COVID-19 pandemic.
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TIMES NOW
#TechLayoffs2024: Experts Explain What Led To The Slump In The Tech Industry While some reports blame the rise of AI as the main culprit, tech experts equally blame the COVID-19 pandemic for the layoffs in the tech industry. Read more: https://t.co/LdC1xq5gl2 https://t.co/fCdM0AfarS
scott budman#Update: There have now been 60,000 tech layoffs so far in 2024. -@Layoffsfyi
KRON4 News LAYOFFS: Over 500 job cuts announced at 2 major Bay Area biotech firms https://t.co/2cQek7JM1s
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