Newest Mass Layoffs Strike San Francisco: Over 2,000 Jobs Lost At Gap, Dropbox

Two major San Francisco-based companies announced mass layoffs on Thursday, with Gap announcing that 1,800 corporate positions will be cut and Dropbox announcing that 16% of all employees, or around 500 people, will be let go.

Beginning in October of last year, the tech sector across the Bay Area announced mass layoffs in the tens of thousands. These have included Twitter, Peloton, Lyft, Opendoor, Chime, Stripe, Intel, Microsoft, and numerous others. In January, Salesforce cut 10% of its staff, or around 7,000 jobs, in only their latest round after several other cuts last year. Seattle-based Amazon slashed 18,000 jobs, with many coming in Silicon Valley city Sunnyvale. and Google cut 12,000 employees. Then in February, thousands more lost their jobs due to layoffs at former Silicon Valley stars PayPal, NetApp, Yahoo, and Twilio. ---More...