Economy | Silicon Valley salaries are shrinking, leaving…
Even though she’s an educated, experienced marketing professional, worrisome thoughts trail the 47-year-old Fremont native’s every waking moment. Currently a contract worker at a health science company, she has been struggling to find secure work that pays enough to keep up with the exorbitant cost of living in the Bay Area.
She has a lot of company. The past year has been tough for the Bay Area, as thousands of layoffs skittered across the region. Even workers at Silicon Valley’s tech titans — including Meta, Apple and Google — have faced job cuts. Since 2022, tech companies in the region have slashed roughly 40,000 jobs. And with each layoff, workers are entering a market that is less friendly to job seekers than it used to be.
New research from tech advocacy organization Women Impact Tech, which examined job and salary data nationwide from 2020 to 2023, affirmed what many people already know: companies are tightening their belts — slicing jobs and salaries alike — and many people are struggling to find work that pays enough to live comfortably in the Bay Area.
