Bidenomics Hits Tech: Silicon Valley

Bidenomics Hits Tech: Silicon Valley

Salaries Plummet amid Layoffs and Economic Uncertainty


The Bay Area’s once untouchable tech industry has been hit hard by a wave of layoffs and salary cuts, leaving many workers struggling to make ends meet in one of the most expensive regions [in California and] in the country.

The [San Jose] Mercury News reports that Silicon Valley, long known as the epicenter of innovation and high-paying tech jobs, is facing a harsh reality as companies tighten their belts and slash jobs and salaries. According to recent research by Women Impact Tech, a tech advocacy organization, Silicon Valley has experienced the biggest drop in pay compared to other tech hubs, falling 15 percent from 2022 to 2023.

The impact of these layoffs and salary cuts is felt by many, including Krista DeWeese, a 47-year-old marketing professional from Fremont. DeWeese has been laid off four times in the last eight years and is currently working as a contract worker at a health science company. Despite her education and experience, she struggles to find secure work that pays enough to keep up with the high cost of living in the Bay Area.

pro-hamas protesters outside Google developer conferencePro-hamas protesters outside Google developer conference (Anadolu/Getty)

“I feel like my career has been frozen in time,” DeWeese said. “Things have been at a standstill.” She has been forced to cut back on expenses, such as taking shorter showers, being conscious of electricity usage, and even buying groceries at the dollar store.


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