Salesforce will cut 10 percent of its workforce and scale back its office space to reduce costs, the company said Wednesday.
, and The Wall Street Journal reported Wednesday that the number of cuts would grow to more than 17,000. Other Big Tech companies have instituted hiring freezes — all a dramatic turnabout from the past decade of explosive growth in Silicon Valley.Salesforce said it would also pare back its office space as part of its plan to reduce costs, including “select real estate exits.” The company’s headquarters is in the tallest building in San Francisco, called Salesforce Tower.
Benioff is known for his activism and donations to help homeless populations, and for fostering Salesforce’s “Ohana” culture, using a Hawaiian word for family. So far, people laid off from the tech industry have largely found new jobs within a few months, according to ZipRecruiter, a job search site. But the newly laid-off workers might face increasing competition with other tech professionals for the best positions.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Salesforce eyes thousands of job cuts in fresh Bay Area tech layoffsSalesforce revealed plans to chop potentially thousands of jobs worldwide within weeks.
Read more »
Salesforce slashing 10% of workforce in latest tech layoffsThe company’s growth has slowed during the past four quarters.
Read more »
Salesforce to cut 10% of workforce in latest tech layoffsSalesforce Inc plans to cut its workforce by 10% and close some offices, saying it needs to cut costs after rapid pandemic hiring left it with 'too many people' amid an economic slowdown, sending its shares up 5%.
Read more »
Salesforce to layoff about 10% of staff in latest round of job cuts in tech industryIn a letter to employees announcing the job cuts, Marc Benioff, Salesforce's chair and co-CEO, admitted to growing headcount too much earlier in the pandemic and said most of the job cuts will take place over the coming weeks.
Read more »
Tech giant Salesforce eyes plans to chop thousands of jobsThe Bay Area company revealed plans to chop potentially thousands of jobs worldwide within weeks.
Read more »
Salesforce to layoff about 10% of staff in latest round of job cuts in tech industrySalesforce said it will cut approximately 10% of its workforce and reduce its real estate footprint, making it the latest tech company to slash expenses as broader economic uncertainty continues to hit Silicon Valley particularly hard.
Read more »