California’s Job Crisis Deepens: Cepheid Slashes 626 Positions
Cepheid, a California-based molecular diagnostics powerhouse, has revealed plans for a significant workforce reduction at its Sunnyvale headquarters. According to recent regulatory filings, the company will eliminate 626 positions by September 27, impacting approximately 13% of its 4,800 employees.
The layoffs will affect various roles, from manufacturing associates to senior management positions, signaling a comprehensive restructuring effort. This move is part of a broader trend of job cuts sweeping through California’s tech and biotech sectors.
Earlier this week, tech giant Intel, another California-based company, announced its own round of layoffs, affecting thousands of employees. These developments underscore the challenging economic landscape facing the state’s industries.
Data from the California Employment Development Department paints a grim picture, with over 1,350 WARN notices filed statewide in the past 12 months. These notices, required by law for large-scale layoffs, indicate a substantial rise in job cuts across California.