Salesforce To Lay Off 700 Employees Across Verticals: Report

The workforce trimming helped Salesforce's earnings leading it to report a rise in second and third quarter revenue and raising its annual profit forecast

In the latest round of job cuts in the tech industry, San Francisco-based Salesforce is laying off about 700 employees, which is about 1 per cent of its global workforce, the Wall Street Journal stated on Friday. Citing sources, according to the report, Salesforce still has 1,000 jobs open across the company, implying that the move could be more of a routine adjusting of the company's workforce.

The job cuts follow a wave of US tech layoffs after the industry hired heavily during the pandemic, including among behemoths such as Amazon and Google. eBay earlier this week announced it would cut about 1,000 roles, about 9 per cent of its current workforce, while Microsoft said it would let go of 1,900 employees at Activision Blizzard and Xbox.

The US headquartered tech firm has already trimmed its workforce last year, when it cut jobs by 10 per cent and closed some offices, after rapid pandemic hiring left it with a bloated workforce. The workforce trimming helped the company's earnings leading it to report a rise in second and third quarter revenue and raising its annual profit forecast.

Salesforce also said in September that it would hire more than 3,000 people after cutting jobs in January last year to drive up margins.

Meanwhile, Indian food and grocery delivery platformSwiggy is reportedly gearing up to lay off around 400 employees across several verticals as the firm prepares for an initial public offering (IPO). In an effort of organisational streamlining and operational efficiency, the company is anticipated to trim approximately 350 to 400 jobs.

The job cuts are expected to affect roles in technology, call centres, and corporate departments, with the layoffs expected to take place gradually over the next few weeks.