SAN JOSE (KCBS) – In a possible sign that the booming Bay Area economy could be slowing, layoffs at hi-tech companies have reportedly more than doubled in the early months of 2016.READ MORE: Bay Area Music Icon Carlos Santana Undergoes Heart Procedure; Cancels December Shows
The first four months of the year saw more than 3,100 hi-tech layoffs in the Bay Area, compared to 1,500 layoffs last year, according to a San Jose Mercury News report. Combined with disappointing earnings reports from tech companies and a drop off in IPO’s, some see the jump in layoffs as more evidence the tech economy is taking a breather.
Dan Slee, a tech worker in San Jose, told KCBS that he is not worried about the layoffs.READ MORE: 49ers Rookie RB Elijah Mitchell Proves to be Diamond in the Rough
“I see it more, rather than a sign of true weakness, I see it as a sign of things being reevaluated. The companies are making a decision now to be strong going forward. ”
Indeed, the latest CEO survey from the Silicon Valley Leadership Group found 58 percent of chief executives do plan to hire in 2016.MORE NEWS: MLB Lockout: A's, Giants Players Blacked Out On Team Websites
Among the local tech companies that shed workers this year are Yahoo, Autodesk, Intel and Lockheed Martin.