A San Francisco tech firm will slash more than 100 jobs through the middle of next year, according to documents filed with the state.
ForgeRock will permanently lay off 109 employees at its Mission Street address in San Francisco, a Nov. 7 WARN notice sent to the California Department of Employment Development said. According to state data, one employee was let go on Oct. 13, 2023. Five others are set to depart in the first quarter of next year, while 103 others will leave by June 30, 2024.
ForgeRock is an identity management software company that private equity firm Thoma Bravo purchased for $2.8 billion and merged with Ping Identity, following an October 2022 acquisition announcement and a January shareholder vote.
“As part of ForgeRock combining into Ping Identity, we can confirm roles within our organization have been impacted,” a Ping Identity spokesperson told The Standard Wednesday.
“We believe that this decision, though difficult, is a necessary step towards our future growth and sustainability,” the spokesperson said. “We honor the considerable contributions of our departing employees and wish all affected employees the very best in their next endeavors.”
In late September, Bay Area technology companies announced hundreds of layoffs in five cities. Notably, Cisco Systems Inc. laid off hundreds of workers in two San Francisco Bay Area cities.
Earlier in October, California tech giant Qualcomm announced it was laying off 1,258 California workers—including almost 200 in the Bay Area, according to California Employment Development Department documents known as WARN notices.