Salesforce will lay off around 700 employees: Salesforce will give pink slips to about 700 employees nationwide as part of its most recent round of layoffs in the tech sector, the Wall Street Journal (WSJ) said on Friday.
Ten percent of the company’s workforce was let go in 2023. Approximately 1% of the 70,000 employees of the company will be impacted by the current layoffs.
With this move, the company joins Google, Twitch, and Amazon as the fourth major tech company to reduce its workforce in 2024.
Earlier this month, Google declared that it was deciding to let go of 12,000 employees.
“I am confident about the huge opportunity in front of us thanks to the strength of our mission, the value of our products and services, and our early investments in AI. To fully capture it, we’ll need to make tough choices,” said Google CEO Sundar Pichai.
“So, we’ve undertaken a rigorous review across product areas and functions to ensure that our people and roles are aligned with our highest priorities as a company. The roles we’re eliminating reflect the outcome of that review.”
Amazon announced that 30 workers from its Buy with Prime division would be let go.
Twitch laid off over 500 employees, or one-third of its workforce. The WSJ reports that Salesforce had a difficult year last year as a result of its sales suffering from the post-pandemic slowdown.
Elliot Management was among the investors who purchased shares in the business, putting pressure on the management to increase margins more quickly.
Salesforce then took several steps, including layoffs, cutting expenses on real estate, and retreats, to meet the target.