Salesforce to cut 10% of the workforce in latest tech layoffs. Jan 4 (Reuters) – Salesforce Inc (CRM.N) plans to cut its workforce by 10% and close some offices, saying it needs to cut costs after rapid pandemic hiring left it with “too many people” amid an economic slowdown, sending its shares up 5%.
The cloud-based software company said on Wednesday it expects between $1.4 billion and $2.1 billion in charges due to the job cuts, of which about $800 million to $1 billion will be recorded in the fourth quarter.
Companies from Meta Platforms Inc (META.O) to Amazon.com Inc (AMZN.O) have in the past year shrunk their employee base to prepare for a deep downturn as global central banks have aggressively raised interest rates to tame stubbornly high inflation.
