Impact of Layoffs and Salary Cuts on Silicon Valley Tech Industry

The Bay Area's tech industry is facing layoffs and salary cuts, impacting workers' ability to afford the high cost of living in the region. Silicon Valley has seen a significant drop in pay compared to other tech hubs.

California's Struggling Job Market

California's job market has been struggling compared to the rest of the U.S., with lower job growth and higher unemployment rates. Various factors like the lingering effects of the pandemic, high business operation hurdles, high cost of living, and tech sector resizing have contributed to this issue.