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Salesforce layoffs: Enterprise software company cuts hundreds of jobs

New Delhi, November 9: Enterprise software company Salesforce has now laid off hundreds of employees, as Big Tech companies weather an economic downturn. Protocol first reported that Salesforce was preparing for a major round of layoffs that could affect up to 2,500 employees.

The company, however, told the media that the job cuts affected “less than a thousand” employees. The enterprise software maker confirmed it laid off employees earlier this week. Smart layoffs: The e-learning platform is laying off almost the entire India team as they are unable to retain certain roles.

“Our sales performance process encourages accountability. Unfortunately, this may lead some to leave the company, and we support them through their transition,” the company said in a statement. The company had 73,541 people on its payroll earlier this year.

In August, Selling power said in a filing that headcount had increased 36% over the past year “to meet increased demand for service from our customers.” According to Protocol, Salesforce previously laid off about 90 contractors and implemented a hiring freeze until January 2023.

“Investors are increasingly demanding a bigger return from Salesforce, which has historically channeled its earnings into growth, including spending billions to acquire companies like Slack and Tableau,” the report said.

Salesforce would also face pressure from activist investor Starboard. Microsoft, one of Salesforce’s main competitors in enterprise software, announced a series of job cuts in October this year.

(The above story first appeared on LatestLY on November 09, 2022 at 11:02 AM IST. For more news and updates on Politics, World, Sports, Entertainment and Fashion of life, log on to our website latestly.com).