Salesforce Fires Approximately 1000 Employees As Demand For Sales Software Weakens
Enterprise Software Company Salesforce is the latest tech firm to have cut hundreds of jobs.
How many are affected?
The company had 73,541 people on its payroll earlier this year.
The layoffs could affect as many as 2,500 employees.
The company, however, responded that the job cuts affected “less than a thousand” employees.
It also confirmed that it sacked employees earlier this week as well, with 90 contract workers affected.
“Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,” said in a statement.
The firm will implement a hiring freeze through January 2023.
Under immense pressure
More and more of its investors are already demanding a greater return.
Salesforce said that it has always funneled its profits toward growth.
This includes spending billions to acquire companies like Slack and Tableau.
Rival doing no better
It is also facing pressure from activist investor Starboard.
Salesforce is not alone in this.
Its own competitor Microsoft had also announced a round of job cuts in October this year.