Salesforce is the latest tech company to cut jobs with 700 layoffs, report says

Beatrice Nolan
·1 min read
3

  • Salesforce is trimming its workforce by about 1%.

  • The cuts will affect around 700 employees, The Wall Street Journal reported.

  • Salesforce laid off about a tenth of its headcount last year.

Salesforce is cutting about 700 employees, The Wall Street Journal reported.

The job cuts, which amount to about 1% of its global workforce, follow a series of workforce reductions last year.

In 2023, Marc Benioff's company laid off about 10% of its total workforce as it grappled with a swarm of activist investors who wanted margins increased faster than planned.

Salesforce also slashed employee perks such as retreats and clamped down on travel costs.

The Journal reported that the tech giant was still advertising for about 1,000 new jobs, implying the decision could be part of a routine headcount adjustment.

An unnamed source told the outelt the layoffs were intended to help the company focus its spending.

Salesforce did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

The layoffs are the latest in a wave of cuts sweeping the tech industry this month.

Industry heavyweights, including Google and Amazon, are among those laying off staff in 2024.

Google has already axed more than 1,000 workers this month, with CEO Sundar Pichai telling staff that more layoffs were coming this year, per The Verge.

More than 20,000 tech workers across 80 companies have been affected by job cuts in the first month of the year, according to tracker Layoffs.fyi.

January is historically a common month for layoffs as companies adjust budgets and plans for the new year. Tech firms slashed 90,000 employees in January 2023.

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