Hundreds of fresh Bay Area layoffs jolt tech and biotech firms at year’s end

PALO ALTO — Hundreds of job cuts jolted the wobbly tech and biotech sectors in a fresh round of job cuts affecting Bay Area workers, according to new official filings that have just been received by the state’s labor agency.

Argo AI, Global Foundries and Abcam Milpitas have decided to jettison a combined total of more than 300 jobs, WARN notices sent to the state Employment Development Department show.

All told, the three companies filed notices with the EDD that total 337 jobs, the EDD reported.

Here’s how the layoffs break down and where the job cuts are occurring:

• Argo AI, an autonomous vehicle startup: 259 job cuts in Palo Alto
• Global Foundries, a semiconductor firm: 50 jobs being cut in Santa Clara
• Abcam, a biotech company: layoffs of 30 employees in Milpitas.

“Argo AI is announcing layoffs of its employees,” Jennifer Honick, vice president of people operations with Argo AI, stated in the WARN letter to the EDD. “These job actions will impact all of Argo’s US employees, including 259 employees at Argo’s facility located at 1450 Page Mill Rd, Palo Alto.”

At one point, the company was deemed to be a promising supplier of autonomous vehicle technologies and zoomed into view in 2017 with investments totaling $1 billion.

Now, the company’s technologies will be absorbed by its primary backers such as legendary automakers Ford and Volkswagen.

The Argo AI job cuts occurred in waves of employment reductions at the company’s Palo Alto offices, the WARN notices stated.

“These job actions are expected to be permanent,” Honick said. “There will not be any bumping rights for the affected employees. Employees will not be able to displace more junior employees out of their positions as a result of this closure.”