TECH - Salesforce Cuts 700 Jobs in Streamlining Effort Yet Eyes Growth with 1000 Open Roles | Benzinga
Salesforce Inc (NYSE:CRM) is implementing layoffs of close to 700 employees, about 1% of its 70,000-strong workforce, following a previous reduction of 10% or around 8,000 workers in 2023.
This move comes amid ongoing cost-cutting pressures from investors, including activist shareholders like Elliott Management, to drive its margins.
Despite these cuts, Salesforce still maintains 1,000 open positions, suggesting these layoffs are part of workforce adjustments rather than a significant strategic shift, the Wall Street Journal reports.
The company’s focus is on directing spending towards growth.
Last September, Salesforce also shared plans to hire nearly 3,300 new employees across various departments, focusing significantly on sales, engineering, and developing the company’s data cloud product.
These steps have contributed to a significant boost ...