The Bay Area tech sector has begun to shed jobs in a big way after years of a dramatic post-coronavirus hiring boom.
The Bay Area tech sector is shedding jobs in a big way after a prolonged pandemic-era hiring boom, an ominous turn for an industry that has spent decades as the primary engine of the region’s economy.
Long-time Valley watcher Tim Bajarin agreed. “Hiring and layoffs are not a precise science,” said Bajarin, a principal analyst with Campbell-based Creative Strategies, which tracks technology trends. “What is going on now is a correction from the over-hiring that occurred during the pandemic, when people were working from home.”
“You had more customer support, more software and hardware for people to work from home,” Bajarin said. “People needed new computers, new printers, new software services, new video conferencing platforms, back-end services, more software.” And it kept going. For 30 months, the Bay Area tech industry hired and hired, and then hired some more.
International Data Corp., which tracks PC markets worldwide, forecasts that personal computer sales will drop 20% this year, Bajarin said. Levy also noted that the Bay Area still added jobs overall when every industry was counted, which means that the region — so far — has been able to overcome the recent spate of tech staffing reductions.
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