Welcome back. Technology companies are not immune from the economic downturn sparked by the coronavirus. Big tech firms have been cutting staff, as have artificial-intelligence startups. Today, we look at how the downturn could reshape the long-term job prospects for Silicon Valley workers.

Also: Panasonic is taking a 20% stake in Blue Yonder.

Coronavirus layoffs remake Silicon Valley job market. The tech industry has been one of the most resilient sectors of the economy during the Covid-19-induced downturn. But major layoffs at big companies, as well as several startups, have shaken any sense that the tech industry is insulated from the broader employment destruction, The Wall Street Journal’s Asa Fitch reports.

Uber on Monday announced it was laying off a further 3,000 people, two weeks after announcing around 3,700 job cuts, bringing the total to about a quarter of its workforce. In recent weeks, rival Lyft Inc. said it would slash 17% of its staff, and Airbnb said it is cutting about 25% of its jobs after bookings on its site plummeted with people largely unable to travel.

AI companies DataRobot and Textio are among those that cut staff, WSJ Pro has reported.

[continues]

IT employment fell last month. Tech’s job losses remain a small slice of the millions of applications for unemployment benefits in the U.S. in the weeks since the Covid-19 outbreak hit.

Still, U.S. information technology employment fell by a record 112,000 jobs in April, erasing a year’s worth of gains, trade group CompTIA said earlier this month, citing Labor Department statistics. Tech startups have seen more than 56,000 layoffs since the coronavirus pandemic hit, according to Layoffs.fyi, a job-tracking site.

Hiring may be slow to rebound.  What’s now unfolding could reshape the long-term prospects for job seekers in Silicon Valley. Recruiters and some executives have said they don’t expect tech hiring to rebound quickly once an economic recovery sets in.

“I don’t think you’ll see us adding back at that same level,” Uber Chief Financial Officer Nelson Chai said recently.

Apple, Google unveil technology for Covid-19 exposure alerts. Apple Inc. and Alphabet Inc.’s Google released technology to help governments track the spread of Covid-19 through apps that notify users if they have been exposed to someone who has tested positive for coronavirus, The Wall Street Journal’s Patience Haggin reports.

The two tech giants, which dominate smartphone operating systems, jointly developed the protocol, which allows app developers to use mobile devices’ Bluetooth signals to identify devices that have come near each other. Some U.S. states and 22 countries have requested and received access to the technology, the companies said. Apple and Google are providing developer tools and not releasing their own exposure-notification apps.

Panasonic takes 20% stake in Blue Yonder. Panasonic Corp. is taking a 20% stake in Blue Yonder, a company that offers AI-based supply chain software, The Wall Street Journal’s Jennifer Smith reports.

The coronavirus pandemic is highlighting the need for tools that can track data in real time and give companies more flexibility to respond to late developments. Panasonic’s imaging technology, for example, can be used to monitor inventory levels on store shelves, sending data back to Blue Yonder’s supply-chain software, triggering restocking.

The Japanese electronics maker’s equity investment gives the privately held U.S. company an enterprise value of $5.5 billion.

DataGrand raises $38 million. DataGrand, a Shanghai-based artificial intelligence and robotic process automation startup, secured $38 million in Series B+ funding. Shenzhen Capital Group led the round, with participation from SAIF Partners, Z Capital and Mount Morning Capital, WSJ Pro reports.

CathVision ApS secures new funding. CathVision ApS, a Copenhagen-based startup developing an artificial intelligence therapeutic platform for cardiac electrophysiology procedures, snagged a €13 million ($14.2 million) financing round from investors including Vaekstfonden, WSJ Pro reports.

The U.S. hit a milestone in the coronavirus pandemic as all 50 states have now begun reopening, working to revive their economies after months of shutdowns designed to curb the contagion. (WSJ)

Yields on U.S. government bonds have stalled near all-time lows, a sign that investors are anticipating a difficult economic recovery and years of aggressive monetary stimulus. (WSJ)

Write to Enterprise Technology Editor Steven Rosenbush and Pro AI Deputy Editor John McCormick.

Follow us on Twitter: @wsjproai, @steve_rosenbush, @J_J_McCormick, @tomloftus, @SCastellWSJ, @JaredCouncil  and @angusloten.