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Economy

San Francisco Races Clock for Comeback With Tech Gloom Deepening

As economic headwinds mount, the city is stepping up efforts to bring back workers and tourists.

Workers in the financial district of San Francisco on July 12. 

Workers in the financial district of San Francisco on July 12. 

Photographer: David Paul Morris/Bloomberg

The drumbeats of bad news just keep coming for San Francisco, already one of the US cities hit hardest economically by the pandemic.

The tech boom that supercharged the region’s economy is careening to an end. Local giants such as Apple Inc. and Google plan to slow hiring, while Tesla Inc. and Lyft Inc. have cut jobs already. The notoriously pricey housing market is rapidly cooling. And office workers and tourists have been slow to return to the city’s downtown.