Layoffs in the South Bay
A tech company, Renesas Electronics, which had been expanding in the Bay Area, is now facing significant staff reductions. The company has announced plans to cut 68 jobs in the South Bay, particularly affecting its offices in south San Jose and Milpitas. This information was disclosed in WARN notices filed with the state Employment Development Department.
Details of the Job Cuts
The layoffs took place on January 21 at two locations:
- San Jose campus: 6024 Silver Creek Valley Road
- Milpitas office: 1001 Murphy Ranch Road
These cuts come just over two years after Renesas had completed acquisitions that were expected to position the company for growth. In December 2023, Renesas proposed a comprehensive revamp of its south San Jose campus, which includes upgrading a 248,900 square foot facility.
Future Uncertainties
Despite the expansion plans, Renesas has indicated that more layoffs may be forthcoming. According to Dan Smoot, the director of HR Business Partner, there are expectations of additional job cuts from January 15, 2024, through April 2025. The specifics of these potential layoffs, including the number of employees affected, have yet to be finalized.
Renesas is navigating a challenging landscape as it balances expansion plans with necessary job cuts, raising concerns about the future of employment in the tech sector in the region.
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