Tech Companies and Bank Announce Major Job Cuts in Bay Area

Roku, Bloom Energy, and BMO have recently announced their plans to slash a total of 411 jobs in the Bay Area, further adding to the monthly job losses already experienced in the region.

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In the latest round of layoffs, streaming video giant Roku and green technology firm Bloom Energy will cut an additional 183 tech jobs in the Bay Area.

Details of the Job Cuts

According to official notices filed with the state labor agency, here are the specifics of the recent job cuts:

• BMO plans to slash 228 jobs in the Bay Area, including 200 job cuts in San Ramon and 28 in San Francisco. These layoffs come after BMO acquired Bank of the West.
• Roku has decided to chop 136 jobs in San Jose. This marks the third round of layoffs by the streaming video company, with two previous events in 2023.
• Bloom Energy is eliminating the jobs of 47 of its own employees, as well as cutting the positions of 50 contractors who were on assignment from staffing agencies.

Overall, the latest rounds of tech layoffs have resulted in over 29,100 jobs being cut in the Bay Area from January 2022 to the present.

This surge in job cuts has had a significant impact on the Bay Area’s employment numbers, with a loss of 5,200 jobs reported in September alone, bringing the total job losses over the past three months to 9,600, as reported by the state Employment Development Department.