Tech layoffs continue. Here’s why they’re not raising recession fears in the Bay Area — yet

IT SEEMS LIKE every few weeks there’s news of Silicon Valley tech workers getting hit by wave after wave of mass layoffs. So why doesn’t it feel like the Bay Area is in a recession? After all, it’s just as hard as ever to buy a house in San Francisco and the region is still the powerhouse for the state’s economy.

Earlier this month Oracle cut more than 500 jobs in the Bay Area as part of a wider workforce reduction totaling roughly 30,000 workers globally. In July, Meta will begin laying off 3,000 workers in Menlo Park, Sunnyvale, Burlingame, San Francisco and Fremont. LinkedIn will also slash more than 500 jobs in Sunnyvale, where it’s headquartered, as well as San Francisco and Mountain View. Last October, Cisco eliminated over 200 Bay Area jobs, and in May the San Jose-based company began eliminating about 4,000 additional jobs globally, despite posting record earnings.