Report: Salesforce to lay off around 700 employees across company

In its latest round of layoffs in the tech industry, Salesforce will hand over pink slips to around 700 employees across the company, the Wall Street Journal (WSJ) reported on Friday.

The company had in 2023 laid off 10 per cent of its employees.

The current layoffs will impact around 1 per cent of the company’s total workforce of 70,000 people. With this, the company has become the fourth tech major to trim its workforce in 2024 after Google, Twitch and Amazon.

Google, earlier this month, announced that it has decided to let go of 12,000 people from the company.

 Amazon said it was laying off 30 employees from its Buy with Prime unit.

Twitch announced it would hand over pink slips to more than 500 employees, more than one-third of its total staff.

According to WSJ, Salesforce had a tough last year after its sales were hurt owing to the post-pandemic slowdown.

Several investors including Elliot Management bought stakes in the company, pressurising the company’s management to improve margins at a faster pace.

Salesforce then took several steps including layoffs and cutting expenses on real estate and retreats to meet the target.