Salesforce layoffs : Shakes Up Tech World with Massive Job Cuts! Find Out Why 700 Employees Are Out.

Salesforce layoffs : In a recent development, Salesforce is set to lay off approximately 700 employees, constituting around 1% of its global workforce, as reported by the Wall Street Journal. Despite the seemingly significant figure, the move may be part of a routine adjustment, given that the company still has 1,000 job openings, according to an undisclosed source mentioned in the report.

This reduction in workforce aligns with a broader trend of tech industry layoffs following a surge in hiring during the pandemic. Major players like Amazon and Google have also witnessed waves of layoffs in recent times. Salesforce has not officially commented on the reported job cuts.

The current scenario in the tech industry sees eBay announcing a reduction of about 1,000 roles, equivalent to approximately 9% of its workforce. Similarly, Microsoft has revealed plans to let go of 1,900 employees at Activision Blizzard and Xbox.

Also Read : Tata consultancy services news : TCS Plans to Expand Workforce in France with Ambitious Growth Targets

This is not the first time Salesforce has adjusted its workforce; it underwent a 10% reduction and office closures last year after rapid hiring during the pandemic resulted in an overextended workforce. This strategic move positively impacted the company’s earnings, leading to increased revenue in the second and third quarters and an upward revision of its annual profit forecast.

Interestingly, Salesforce’s commitment to workforce management has been dynamic. Despite cutting jobs in January last year, the company announced plans to hire more than 3,000 people in September, emphasizing its dedication to optimizing margins and maintaining a resilient business model.

Also Read : LIC’s Major Move Shakes Up HDFC Bank! RBI Greenlights 9.99% Stake – Find Out the Impact on Shares and Profits!