Salesforce layoffs: Salesforce becomes the latest company to lay off hundreds of employees | – Times of India

Salesforce has become the latest technology company to lay off its employees. While there is no exact number of employees that are out of the job, the US cloud-based software company says that the number is less than a thousand. The company joins the growing list of Silicon Valley giants that have been cutting costs primarily due to global economic uncertainty. Twitter, Microsoft and Intel are some of the companies that have laid off their employees in recent weeks.
Citing a person close to the company, TechCrunch reports that the people who have been laid off were informed on Monday (October 7). A report by Protocol, the publication that was the first to report about the layoffs in Salesforce, claimed that job cuts by the company could affect as many as 2,500 workers. Apart from harsh economic conditions, it is reported that Starboard Value – which announced it was taking a “significant stake” in Salesforce last month – wants an increased profit target that can be achieved by cutting costs.
“Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,” Salesforce said in an official statement on the layoffs. Salesforce had more than 73,000 employees prior to layoffs.

Job cuts at Meta
The development comes as Meta CEO Mark Zuckerberg reportedly confirmed “broad cuts” across Instagram, Facebook and WhatsApp. The top executive took responsibility of the company’s downturn saying that his “over-optimism” about growth led to overstaffing, The Wall Street Journal cited people familiar with the matter as saying. The company is said to start cutting jobs today (October 9).
Silicon Valley sees 45,000 job cuts
Apart from Salesforce and Meta, technology companies including Twitter, Microsoft, Intel, Seagate, Netflix, Coinbase, and Snap, among others have either laid off employees or frozen hiring in recent weeks. Google, Amazon and Apple have also announced that they are freezing hiring due to concerns shrouding uncertain economic conditions.