Salesforce

2023 - 1 - 5

Post cover — Image courtesy of "theloadstar.com"

SA: Salesforce to cut workforce by around 10% - The Loadstar (theloadstar.com)

– CRM rose 1.8% in premarket trading. – “As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now ...

SEEKING ALPHA reports: Alibaba (NYSE:BABA) rose some 8% Monday in Hong Kong after founder Jack Ma ... – CRM rose 1.8% in premarket trading. SA: Alibaba stock up 8% in Hong Kong as Jack Ma gives up control of sister firm Ant Group

Salesforce to cut staff by 10% in latest tech layoffs (Reuters)

Salesforce Inc said on Wednesday it would lay off about 10% of its employees and close some offices, becoming the latest tech firm to undertake cost cuts ...

[filing](https://www.sec.gov/Archives/edgar/data/1108524/000110852422000060/crm-20221031.htm) that it increased headcount "to meet the higher demand for services". [letter to employees](https://www.sec.gov/Archives/edgar/data/1108524/000110852423000003/ex991-lettertoemployees.htm). [(MSFT.O)](https://www.reuters.com/companies/MSFT.O). [(META.O)](https://www.reuters.com/companies/META.O) to Amazon.com Inc [(AMZN.O)](https://www.reuters.com/companies/AMZN.O) have slashed thousands of jobs in the past year, in preparation for a recession, expected as a result of aggressive interest rate hikes by global central banks to curb inflation. Register for free to Reuters and know the full story [(CRM.N)](https://www.reuters.com/companies/CRM.N) said it plans to cut jobs by 10% and close some offices, after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown.

Salesforce cuts 10% of staff as demand slows (Financial Times)

Salesforce has announced plans to lay off about 10 per cent of its workforce, becoming the latest tech group to cut costs as businesses tighten their belts ...

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Salesforce Gains on Plan to Cut Jobs, Offices Amid Slowing Sales (Bloomberg)

Salesforce Inc. rose after saying it would cut about 10% of its workforce and reduce its real estate holdings. The enterprise software company hired too ...

As much as $1 billion of that will come in its fiscal fourth quarter. [regulatory filing](/news/terminal/RNYL0YBLKPOG), and cost the company $1.4 billion to $2.1 billion. [Salesforce Inc.](/quote/CRM:US) will cut about 10% of its workforce and reduce real estate holdings after the enterprise software company said it hired too many people during the pandemic-fueled boom and is adjusting to more cautious spending by customers.

Salesforce details "generous" severance package as 10% of ... (Business Plus)

Salesforce, which employs more than 2000 people in Ireland, has informed staff it will layoff around 10% of its workforce and close some offices.

Twitter also cut half its workforce following its takeover by Elon Musk. "Of the aggregate amount of charges that the company estimates it will incur in connection with the plan, the company expects that approximately $1.2bn to $1.7bn will be in future cash expenditures," Salesforce added. Salesforce expects that it will incur charges of $1.4bn to $2.1bn in connection with the restructuring plan, of which $800m to $1bn will be incurred in the fourth quarter of its 2023 financial year.

Salesforce to cut staff by 10% in latest tech layoffs (CNA)

Salesforce said on Wednesday (Jan 4) it would lay off about 10 per cent of its employees and close some offices, becoming the latest tech firm to undertake ...

Salesforce to cut 10% of workforce (Human Resources Director)

2023 is looking awfully similar to 2022, as another high-profile employer in the United States is reducing headcount ahead of an anticipated recession.

Salesforce to cut 10% of workforce after hiring 'too many people' (CNA)

Salesforce said it plans to cut jobs by 10 per cent and close some offices, after rapid pandemic hiring left it with a bloated workforce amid an economic ...

Salesforce is cutting 10% of its personnel, more than 7000 employees (CNBC)

Salesforce is cutting 10% of its personnel and reducing some office space as part of a restructuring plan, the company announced Wednesday.

[Twitter's](https://www.cnbc.com/quotes/TWTR/) new boss, [Elon Musk](https://www.cnbc.com/elon-musk/), slashed half his company's workforce, Facebook parent [Meta](https://www.cnbc.com/quotes/META/) announced its most significant round of layoffs ever, eliminating [13% of its staff](https://www.cnbc.com/2022/11/09/meta-to-lay-off-more-than-11000-thousand-employees.html). [fewer than 1,000 employees in November](https://www.cnbc.com/amp/2022/11/08/salesforce-cut-hundreds-of-employees-on-monday.html). 31, leaving [Marc Benioff](https://www.cnbc.com/marc-benioff/) alone again at the top of the company he co-founded in 1999. The company employed [more than 79,000 workers](https://www.salesforce.com/news/stories/salesforce-company-facts/) as of December. The company let go of [Amazon](https://www.cnbc.com/quotes/AMZN/), [Lyft](https://www.cnbc.com/quotes/LYFT/), [HP](https://www.cnbc.com/quotes/HPQ/) and [DoorDash](https://www.cnbc.com/quotes/DASH/) also announced significant cuts to their workforces. The company is eager to become more profitable through more efficient spending. Analysts led by Brent Bracelin at Piper Sandler, who have the equivalent of a buy rating on Salesforce stock, estimated in a note to clients that the cuts could lower operating expenses by $1.5 billion or more each year and widen the company's operating margin to 26% from 21%. [departure of Slack CEO Stewart Butterfield](https://www.cnbc.com/2022/12/05/slack-ceo-stewart-butterfield-leaving-salesforce-two-years-after-deal.html), who joined Salesforce as part of its [biggest acquisition ever](https://www.cnbc.com/2020/12/01/salesforce-buys-slack-for-27point7-billion-in-cloud-companys-largest-deal.html). "As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that." 31](https://www.cnbc.com/2022/11/30/salesforce-crm-earnings-q3-2023.html). [Salesforce](/quotes/CRM/) is cutting 10% of its personnel and reducing some office space as part of a restructuring plan, the company [announced Wednesday](https://www.sec.gov/Archives/edgar/data/1108524/000110852423000003/ex991-lettertoemployees.htm).

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