More layoffs were confirmed Thursday at local tech company Lyft, raising questions about what the loss of jobs will mean for the wider Bay Area economy.
amid the chaos that has gripped the San Francisco social media company since Musk completed his purchase of the platform.
The company laid off approximately 3,700 employees. There were reports that a number of workers have already been asked to return to the company since the initial wave of layoffs.that employees would have to come into Twitter headquarters on Market Street to work instead of operating remotely . He told employees that some"exceptional" employees could seek an exemption from his return-to-work order, but that others who didn't like it could quit, according to an employee at the meeting who spoke on condition of anonymity out of a concern for job security.
Numerous other local tech companies have been laying off workers, including Juul, Salesforce, Netflix, Spotify and Stripe. Fears of a looming recession come as the Federal Reserve ordered another .75% increase to interest rates last week.
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