Californian firms still are announcing big layoffs, and this time it is not only tech companies. <\/p>\n
Visa announced in a memo to staff on Tuesday that it would be laying off 2,600 employees, or nearly 7% of its workforce. The San Francisco-based card payment company has not confirmed how many affected employees will be from its California offices. The layoffs come as Visa is seeking to make its operations more efficient and advance its use of artificial intelligence. <\/p>\n
\u201cTo capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work,\u201d Chief Executive Ryan McInerney wrote. \u201cAI is also helping to accelerate this evolution and shape the way work gets done at Visa.\u201d<\/p>\n
In Visa\u2019s most recent earnings call on July 28, the company reported a net revenue of $11.6 billion, a 14% increase from last year. <\/p>\n
\u201cAs a result of the choices we have made over the past few years, we are entering a new era in commerce with a business that has real momentum,\u201d McInerney said in the memo. \u201cWe see this in our continued strong financial results, client satisfaction, employee engagement, and breakthrough innovation as we build and ship products better and faster than ever before.\u201d<\/p>\n
Patreon, Intel and Uber also announced layoffs this week, resulting in more than 200 job cuts in the San Francisco Bay Area. <\/p>\n
Intel announced 103 layoffs across four of its Santa Clara offices, with their Juliette Lane office being hit the hardest with 67 layoffs. This announcement extends years of layoffs at the tech company, including more than 400 in July 2025. The layoffs are part of an ongoing restructuring for efficiency and will take effect Aug. 15. <\/p>\n
Uber announced 41 layoffs across three San Francisco offices, impacting remote employees as well. Last week, the ride-sharing giant said it would be cutting 10% of its customer service workforce to utilize AI. <\/p>\n
\u201cTo unlock this potential, we need an effective organization to layer AI on,\u201d Megha Yethadka, Uber\u2019s vice president of global community operations, said in a memo to staff last week. \u201cWe cannot scale frontier technology on top of fragmented processes.\u201d The layoffs will take effect Sept. 21. <\/p>\n
Patreon, another San Francisco-based company that allows fans to subscribe to exclusive content from influencers, announced on its platform on July 23 that it would be reducing its team by 20%, or roughly 93 employees. <\/p>\n
Chief Executive Jack Cote described the layoffs as \u201cpainful\u201d and said they are a result of organizational changes to refocus teams on top priorities. He also said the layoffs and changes are not related to AI, and while Patreon has used it, he does not believe it is a replacement for human creativity. <\/p>\n
Cote also said the company has had success in its efforts to shift to a media and community network, saying feed-attributed memberships have risen more than five times since the network launch. <\/p>\n
These latest cuts add to a drumbeat of job losses across the Bay Area and Silicon Valley. Two Amazon delivery companies announced closures this month, alongside layoffs at Cisco, Meta and Oracle this year. <\/p>\n","protected":false},"excerpt":{"rendered":"Californian firms still are announcing big layoffs, and this time it is not only tech companies. Visa announced…\n","protected":false},"author":2,"featured_media":417060,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[2007,81077,2625,828,5894,5679,5562,7036,23112,166828,166827,101,4459,103,102,104,106,105,4119,3986,15622],"class_list":["post-417059","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-francisco","tag-ai","tag-big-layoff","tag-california-company","tag-employee","tag-intel","tag-july","tag-last-week","tag-last-year","tag-memo","tag-organizational-change","tag-patreon","tag-san-francisco","tag-san-francisco-bay-area","tag-san-francisco-headlines","tag-san-francisco-news","tag-sf","tag-sf-headlines","tag-sf-news","tag-top","tag-uber","tag-visa"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/417059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=417059"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/417059\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/417060"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=417059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=417059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=417059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}