News Formal
subpath:

Salesforce to layoff about 10% of staff in latest round of job cuts in tech industry

  • 📰 abc7newsbayarea
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

In 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.

"I've been thinking a lot about how we came to this moment," Benioff wrote. "As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that."As of January 2022, Salesforce reported a headcount of 73,541 global employees.

Like Benioff, a number of other tech founders and CEOs have since admitted they failed to accurately gauge pandemic demand. As a result, tech firms including Amazon and Meta have announced company-wide layoffs.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 529. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: General Electric, Salesforce, Alibaba and moreThese are the stocks posting the largest moves in early morning trading.
Source: CNBC - 🏆 12. / 72 Read more »