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HomeNEWSLayoff Continues: This Software Company Sacks Over 7,000 Employees. Deets Here

Layoff Continues: This Software Company Sacks Over 7,000 Employees. Deets Here

Layoff News: A wave of layoffs that hit dozens of employees last year appears to show no sign of slowing down into 2023. After Amazon, cloud-based software firm Salesforce became the latest firm to announce job cut in the new year. Salesforce has announced to lay off 10 per cent of its workforce, impacting more than 7,000 employees. The company asserted that the job cuts would lead to about $1.4 billion to $2.1 billion in charges, while only about $800 million to $1 billion will be recorded in the fourth quarter.

“The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions. 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”, Salesforce co-Chief Executive Officer Marc Benioff said in a letter to employees.

In the US, affected employees will receive a minimum of nearly five months of pay, health insurance, career resources, and other benefits to help with their transition. “Those outside the US will receive a similar level of support, and our local processes will align with employment laws in each country,” said Benioff.

The company had 73,541 people on its payroll in early 2022. In November last year, the company laid off hundreds of employees. The company, however, told media publications that the job cuts affected “less than a thousand” employees.

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