Salesforce Lays 700 Workers in Tech Industry’s Latest Downsizing – Wall Street Journal

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(Reuters) – Salesforce will lay off about 700 employees, or roughly 1% of its global workforce, in the latest round of job cuts to hit the technology industry, the Wall Street Journal reported on Friday.

However, the report added that Salesforce still has 1,000 open positions across the company, meaning the move could be more than just a routine reshuffle of the company’s workforce, the report said, citing a source.

The job cuts follow a wave of tech layoffs in the United States after the industry hired heavily during the pandemic, including among giants like Amazon and Google.

Salesforce did not respond to Reuters’ request for comment on the report.

Earlier this week, eBay announced it would cut about 1,000 jobs, or an estimated 9% of its current workforce, while Microsoft said it would cut 1,900 employees at Activision Blizzard and Xbox.

Salesforce already trimmed its workforce last year, when it cut jobs by 10% and closed some offices, after rapid pandemic hiring left it with a bloated workforce.

Reducing the workforce helped the company’s profits, prompting it to announce an increase in revenues in the second and third quarters and raise its annual profit expectations.

Salesforce also said in September that it would hire more than 3,000 people after cutting jobs in January last year to boost margins.

(Reporting by Disha Mishra in Bengaluru; Editing by Rashmi Aish)

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