According to a report by the Wall Street Journal, Salesforce, the cloud-based software company, is reportedly laying off approximately 700 employees, which accounts for about 1% of its global workforce. However, the report also suggests that the company still has around 1,000 open positions across various departments, indicating that the move could be a regular adjustment to the workforce. The tech firm is the latest in a series of companies that have resorted to job cuts following the pandemic-induced hiring spree. Giants such as Amazon and Google have also made similar moves in recent months.
Earlier this week, eBay announced that it would cut approximately 1,000 jobs, equivalent to nearly 9% of its current workforce, whereas Microsoft said that it would let go of around 1,900 employees at Activision Blizzard and Xbox.
Last year, Salesforce had already reduced its workforce by 10% and closed some of its offices, following the pandemic-induced hiring spree that had left it with an overstaffed workforce. The company’s earnings benefited from the workforce trimming, as it reported a rise in revenue during the second and third quarters and raised its annual profit forecast.
In September, the company announced its plans to hire over 3,000 people, having cut jobs in January last year to improve margins. The latest move to trim its workforce is seen as part of the company’s ongoing efforts to streamline its operations and adjust to the new normal.