Salesforce, a tech giant, announced Wednesday that it will be cutting its global workforce by 10%, or 7,350 employees. This is the latest round of job cuts in the tech industry as corporations cut back on software and other spending.
In a letter to employees, Salesforce’s chair and co-CEO Marc Benioff admitted to growing headcount too much earlier in the pandemic and said most of the job cuts will take place over the coming weeks. He also said that employees being released will receive nearly five months of pay, health insurance, career resources and other benefits.
“The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions,” said Benioff. “With this in mind, we’ve made the very difficult decision to reduce our workforce by about 10 percent, mostly over the coming weeks.”
Benioff also said that the company will be reducing its real estate footprint. The job cuts come as Silicon Valley faces broader economic uncertainty due to the pandemic.
Salesforce currently has a headcount of 73,541 global employees. The job cuts are expected to be completed by January 2022.
Be First to Comment