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Tech Company Layoffs In 2023: The Latest Cuts In Q1
Joseph F. Kovar
While tech layoffs in 2022 rose to levels not seen in years even as many tech companies were desperate to find employees, the number of tech layoffs already unveiled in January indicate that the situation will only grow in 2023.
Cisco: Plans Almost 700 Layoffs
Cisco Systems on Jan. 4 filed notification with the California Worker Adjustment and Retraining Notifications (WARN) system that it is cutting 673 jobs in the San Francisco Bay Area as part of the tech giant’s previously announced plan to maximize cost savings. The California WARN Act requires covered employers to provide advance notice to employees affected by office closures or mass layoffs.
The company is eliminating 371 jobs at its San Jose location, 222 jobs in Milpitas, and 80 in San Francisco, according to the WARN notification. The majority of the layoffs that the company is planning will affect software engineers, technical engineers, hardware engineers, product managers and supervisors, the tech giant stated in three WARN letters filed with the state’s Employment Development Department.
Cisco employees affected by the cuts were notified on Dec. 12 and have the option of selecting a termination date of Feb. 1, 2023, or March 13, 2023, the notice said. “The termination will be effective on those dates or on a date within a 13-day period immediately following those dates,” Cisco said in the notice. “This action is expected to be permanent in nature.”
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