By Reuters | Updated: 26 January, 2024
Jan 26 (Reuters) – Salesforce (CRM.N), opens new tab is laying off about 700 employees, or roughly 1% of its global workforce, the Wall Street Journal reported on Friday, in the latest round of job cuts to hit the tech industry.
However, the report added that Salesforce still has 1,000 jobs open across the company, implying that the move could be more of a routine adjusting of the company’s workforce, the report said, citing a source.
The job cuts follow a wave of U.S. tech layoffs after the industry hired heavily during the pandemic, including among behemoths such as Amazon (AMZN.O), opens new tab and Google.
Salesforce did not respond to a Reuters request for comment on the report.
Earlier this week, eBay announced it would cut about 1,000 roles, or an estimated 9% of its current workforce, while Microsoft (MSFT.O), opens new tab said it would let go of 1,900 employees at Activision Blizzard and Xbox.
Salesforce has 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.
The workforce trimming helped the company’s earnings leading it to report a rise in second and third quarter revenue and raising its annual profit forecast.
Salesforce also said in September that it would hire more than 3,000 people after cutting jobs in January last year to drive up margins.
© Thomson Reuters 2024
