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

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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.

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