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Salesforce to Lay Off 700 Workers in Latest Tech Industry Downsizing
Salesforce is set to lay off approximately 700 employees, accounting for about 1% of its global workforce. The job cuts are part of a routine adjustment to the company's workforce, with 1,000 job openings still available. The tech industry has witnessed a wave of layoffs as companies seek to streamline operations after heavy pandemic hiring.
In a move that reflects the ongoing challenges faced by the tech industry, Salesforce is set to lay off approximately 700 employees, which accounts for about 1% of its global workforce.
The decision comes as part of a routine adjustment to the company's workforce, with Salesforce still having 1,000 job openings across various departments.
The tech industry has witnessed a wave of job cuts in recent times, as companies that heavily hired during the pandemic now face the need to streamline their operations. Giants like Amazon and Google have also been forced to make significant layoffs.
While Salesforce has not responded to requests for comment on the matter, it is worth noting that the company had already made workforce reductions last year. These cuts, which amounted to 10% of its workforce, were necessary to address the bloated workforce resulting from rapid pandemic hiring.
Interestingly, the workforce trimming had a positive impact on Salesforce's financial performance. The company reported a rise in revenue during the second and third quarters, leading to an increase in its annual profit forecast.
It is important to highlight that Salesforce had previously announced plans to hire over 3,000 employees after the job cuts in January last year. This strategic move aimed to drive up margins and ensure the company's long-term growth.
Salesforce is set to lay off approximately 700 employees, accounting for about 1% of its global workforce.
The job cuts are part of a routine adjustment to the company's workforce, with 1,000 job openings still available.
The tech industry has witnessed a wave of layoffs as companies seek to streamline operations after heavy pandemic hiring.
Source: REUTERS