The significant number of layoffs in San Francisco reflects a broader post-pandemic economic restructuring, emphasizing the city's ongoing struggle with workforce stability and job security.
In 2024, more than 5,500 layoffs impacted various sectors, including tech and finance, as companies adapt to changing economic conditions from the pandemic.
JPMorgan Chase & Co. led the layoffs in 2024, with 1,308 positions cut following their acquisition of First Republic Bank, marking a pivotal shift in the job market.
The layoffs in San Francisco this year are a stark reminder of the continuing transformation within the economy, reshaping not only businesses but also entire communities.
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