{"id":1795761,"date":"2023-01-05T09:22:23","date_gmt":"2023-01-05T14:22:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1795761"},"modified":"2023-01-05T09:23:24","modified_gmt":"2023-01-05T14:23:24","slug":"salesforce-to-cut-10-percent-of-workforce-in-latest-tech-layoffs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/salesforce-to-cut-10-percent-of-workforce-in-latest-tech-layoffs\/","title":{"rendered":"Salesforce will reduce 10 percent of its workforce in the latest tech layoffs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsalesforce-to-cut-10-percent-of-workforce-in-latest-tech-layoffs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1795761&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p><a href=\"https:\/\/www.theepochtimes.com\/t-salesforce\">Salesforce<\/a> Inc. intends to reduce its workforce by 10 per cent and close certain offices. It says it is necessary to reduce costs after rapid pandemic recruitment left it with. \u201ctoo many people\u201d During an economic slowdown, its shares rose 5 percent.<\/p>\n<p>The cloud-based company that makes software said Wednesday it expected to pay between $1.4 billion &#038; $2.1 billion in job loss charges. A fourth quarter charge of approximately $800 Million \u2013 $1 billion was recorded.<\/p>\n<p>In the past year, companies ranging from Meta Platforms Inc. and Amazon.com Inc. reduced their workforce to prepare for a severe downturn. Global central banks have raised interest rates aggressively to control stubbornly high inflation.<\/p>\n<p>Cloud services were used by many businesses during the pandemic. Now, they are trying to cut expenses and defer new projects. This has hurt companies like Microsoft Corp.<\/p>\n<p>\u201cThe environment remains challenging and our customers are taking a more measured approach to their purchasing decisions,\u201d Marc Benioff, coChief Executive Officer, said this in a note to employees.<\/p>\n<p>\u201cAs our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we\u2019re now facing, and I take responsibility for that,\u201d Benioff was also added.<\/p>\n<p>Salesforce had 73 541 employees at the end January, which was a 30% increase over 2021.<\/p>\n<p>The company\u2019s growth has slowed during the past four quarters, with Salesforce posting its weakest revenue increase in the third quarter.<\/p>\n<p>\u201cCompanies will want to show voting shareholders that they can once again deliver value through investment returns even amidst a downturn,\u201d Joshua White, a Vanderbilt University finance professor, said: \u201cLayoffs will be a big part of that equation.\u201d<\/p>\n<p>Salesforce announced that affected employees in the United States would receive at most five months of pay, insurance and other benefits.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-reuters\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/reuters-logo-.jpg\" alt=\"Reuters\"   style=\"display:none\"><\/a>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Salesforce Inc. intends to reduce its workforce by 10 per cent and close certain offices. It says it is necessary to reduce costs after rapid pandemic recruitment left it with. \u201ctoo many people\u201d During an economic slowdown, its shares rose 5 percent. The cloud-based company that makes software said Wednesday it expected to pay between &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1695410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[5458,7970,6157,7104,3819,13299,4989,9848],"class_list":["post-1795761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bongino","tag-layoffs","tag-percent","tag-reduce","tag-report","tag-salesforce","tag-tech","tag-workforce"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1795761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1795761"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1795761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1695410"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1795761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1795761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1795761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}