Tech companies have begun to officially detail the local impact of layoffs they have carried out, some linked to the fallout from the coronavirus, a grim reminder of the deep economic effects unleashed by the deadly bug.
Lyft, Yelp, IBM, and LendingClub are among the tech companies whose Bay Area layoff plans have been posted recently by a state agency as part of an official government filing.
The layoff plans by the four tech companies were revealed in notices to the state’s Employment Development Department.
The four tech companies disclosed plans for layoffs totaling a combined 1,000, updated posts on the EDD site show.
The WARN notices provide the first details of the local impacts of layoff plans by the quartet of tech companies.
In some instances, such as with Lyft, LendingClub, and Yelp, the layoffs were part of prior disclosures of job cuts worldwide that didn’t break out the Bay Area employment losses — until now.
LendingClub, a tech-oriented personal finance company, told the EDD of plans to lay off 367 workers in San Francisco.
Lyft, a tech-based ride-hailing company, revealed layoffs of 325 workers in San Francisco, the EDD reported.
Yelp, an Internet company that provides crowd-sourced reviews about businesses, disclosed layoffs of 235 people in San Francisco, the EDD site shows.
IBM, a cloud computing and tech company officially named International Business Machines, disclosed it planned layoffs in San Jose that were scheduled to be effective on July 20. The EDD posted the notices on June 6.
The IBM, LendingClub, and approximately 305 of the Lyft layoffs were described as “permanent” in the EDD WARN notice.
The Yelp layoffs and about 60 of the LendingClub cutbacks were described as “temporary.”
