Tech Layoffs in the Bay Area: Lockheed Martin, Coherent, and Hinge Health Cut Jobs

A person walks towards the Lockheed Martin visitor center at 1111 Lockheed Martin Way in Sunnyvale, unaware of the recent wave of job cuts hitting the tech industry in the Bay Area.

Lockheed Martin, Coherent, and Hinge Health are the latest companies to announce layoffs, totaling more than 200 positions being eliminated. The aerospace and defense giant Lockheed Martin is cutting 68 jobs in Sunnyvale and Palo Alto, while semiconductor equipment maker Coherent is slashing 61 positions in Santa Clara. Additionally, Hinge Health, a tech company specializing in online physical therapy, is reducing its workforce by 77 employees in San Francisco.

All three companies have described the job cuts as permanent, adding to the growing number of tech layoffs in the Bay Area. In April alone, tech companies have disclosed plans to eliminate 949 jobs, with Apple announcing 614 layoffs in Santa Clara. While April’s numbers are higher than March, they are still lower than the staggering job cuts seen in January and February of this year.

Since the beginning of 2022, tech companies in the Bay Area have revealed plans to eliminate over 38,800 jobs, painting a grim picture for the tech industry workforce in the region.

As the person approaches the Lockheed Martin visitor center, they may be unaware of the challenges facing the tech industry in the Bay Area, where job cuts are becoming all too common.