SAN JOSE — Silicon Valley’s economy and job markets remain sturdy despite being jolted by a steady drumbeat of Bay Area layoffs orchestrated by tech and biotech companies, according to a report released Tuesday.
Yet the region has come to rely disproportionately on just a few companies, according to researchers for the 2023 Silicon Valley Index, who determined that three firms — Google, Apple and Facebook owner Meta Platforms — account for nearly one out of every five tech jobs in Silicon Valley.
Despite the widening reports of tech and biotech layoffs in the Bay Area, the Silicon Valley region, defined as Santa Clara County, San Mateo County and the