Salesforce

Salesforce said on Wednesday it would lay off about 10% of its employees and close some offices as a part of its restructuring plan.

31, as a strong dollar also eats into its sales. The company expects the move to lead to about $1.4 billion to $2.1 billion in charges, of which about $800 million to $1 billion will be recorded in the fourth quarter of fiscal 2023. - The company expects the move to lead to about $1.4 billion to $2.1 billion in charges, of which about $800 million to $1 billion will be recorded in the fourth quarter of fiscal 2023.

Salesforce Inc. rose after saying it would cut about 10% of its workforce and reduce its real estate holdings. The enterprise software company hired too ...

As much as $1 billion of that will come in its fiscal fourth quarter. [regulatory filing](/news/terminal/RNYL0YBLKPOG), and cost the company $1.4 billion to $2.1 billion. [Salesforce Inc.](/quote/CRM:US) will cut about 10% of its workforce and reduce real estate holdings after the enterprise software company said it hired too many people during the pandemic-fueled boom and is adjusting to more cautious spending by customers.

Similar to other companies hit by significant layoffs over the past year, Benioff added that Salesforce had hired too many people through the pandemic during ...

The business software giant Salesforce is set to lay off 10 percent of its workforce, nearly 8000 employees, and cut back its office spaces, according to a ...

[in a string of moves by tech companies](https://thehill.com/policy/technology/3747126-more-tech-layoffs-hp-laying-off-up-to-6000-workers-globally-in-the-next-3-years/) to turn to layoffs amid fears of inflation and a looming recession. Talk of a possible recession on the horizon for the U.S. [layoffs](https://thehill.com/tag/layoffs/) [Marc Benioff](https://thehill.com/people/marc-benioff/) [Recession](https://thehill.com/tag/recession/) [Salesforce](https://thehill.com/tag/salesforce/) [tech companies](https://thehill.com/tag/tech-companies/) [technology](https://thehill.com/tag/technology/) [William Dudley](https://thehill.com/people/william-dudley/) [News](https://thehill.com/homenews/) [Morning Report](https://thehill.com/homenews/morning-report/) [Senate](https://thehill.com/homenews/senate/) [House](https://thehill.com/homenews/house/) [See All](https://thehill.com/homenews/) It was also [reported in November](https://thehill.com/policy/technology/3734974-amazon-plans-to-lay-off-10000-people-report/) that Amazon was planning to lay off as many as 10,000 workers, but the company says it has not determined the final number of positions that will be affected. Like other tech companies, Salesforce’s revenue surged throughout the pandemic as people turned to work-from-home policies and relied heavily on technology to stay connected. [Rising](https://thehill.com/hilltv/rising/) [What America's Thinking](https://thehill.com/hilltv/america/) [See all Hill.TV](https://thehill.com/hilltv) [See all Video](https://thehill.com/video) [Senate](https://thehill.com/homenews/senate/) [Morning Report](https://thehill.com/homenews/morning-report/) [House](https://thehill.com/homenews/house/) [Administration](https://thehill.com/homenews/administration/) [See All](https://thehill.com) This week, former Federal Reserve Bank of New York President William Dudley [two-thirds of economists](https://thehill.com/policy/finance/3796424-two-thirds-of-economists-surveyed-predict-recession-this-year/) believe that a recession is near. [said a recession was “pretty likely.”](https://thehill.com/policy/finance/3796536-former-new-york-fed-chief-recession-pretty-likely-in-us/) In November, Meta, the parent company of Facebook, announced it would lay off 11,000 employees. “A recession is pretty likely just because of what the Fed has to do,” Dudley said [a letter to employees](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001108524/6460bc13-bdbb-4bd4-a6f4-f7919b884f6b.pdf) on Wednesday citing concerns about the direction of the economy.

The software company plans to cut around 8000 jobs as business slows for tech companies. “We hired too many people leading into this economic downturn,” ...

[Meta](https://www.nytimes.com/2022/11/09/technology/meta-layoffs-facebook.html), which owns Facebook and Instagram, cut 13 percent of its employees in November and said its head count would remain “roughly flat” through the end of this year. [Snap](https://www.nytimes.com/2022/08/31/technology/snap-layoffs-restructuring.html), Snapchat’s parent company, laid off 20 percent of its employees in August, blaming challenging macroeconomic conditions. In December, Stewart Butterfield, the chief executive of Slack, a workplace communication platform owned by Salesforce, also said he would leave his position by the end of this month. Most of the cuts will be made “over the coming weeks,” he wrote. In November, Bret Taylor, Salesforce’s co-chief executive, announced that he would resign from his post and leave at the end of this month. More than 150,000 tech workers were laid off last year, according to Layoffs.fyi, a site that tracks job cuts. The company estimated that the changes would cost up to $2.1 billion. Salesforce’s revenue, like that of many other technology companies, boomed during the pandemic when more people around the world worked from home and relied more heavily on technology to collaborate with colleagues remotely. Benioff suggested that the company had hired too aggressively during that period. The layoffs cast the tech industry’s slowdown into even sharper relief. [ rushed to make cuts](https://www.nytimes.com/2022/11/10/technology/big-tech-layoffs.html). [layoffs](https://www.nytimes.com/2022/11/03/technology/tech-companies-hiring-freeze-job-cuts.html).

Salesforce is cutting 10% of its personnel and reducing some office space as part of a restructuring plan, the company announced Wednesday.

[Twitter's](https://www.cnbc.com/quotes/TWTR/) new boss, [Elon Musk](https://www.cnbc.com/elon-musk/), slashed half his company's workforce, Facebook parent [Meta](https://www.cnbc.com/quotes/META/) announced its most significant round of layoffs ever, eliminating [13% of its staff](https://www.cnbc.com/2022/11/09/meta-to-lay-off-more-than-11000-thousand-employees.html). [fewer than 1,000 employees in November](https://www.cnbc.com/amp/2022/11/08/salesforce-cut-hundreds-of-employees-on-monday.html). 31, leaving [Marc Benioff](https://www.cnbc.com/marc-benioff/) alone again at the top of the company he co-founded in 1999. The company employed [more than 79,000 workers](https://www.salesforce.com/news/stories/salesforce-company-facts/) as of December. The company let go of [Amazon](https://www.cnbc.com/quotes/AMZN/), [Lyft](https://www.cnbc.com/quotes/LYFT/), [HP](https://www.cnbc.com/quotes/HPQ/) and [DoorDash](https://www.cnbc.com/quotes/DASH/) also announced significant cuts to their workforces. The company is eager to become more profitable through more efficient spending. Analysts led by Brent Bracelin at Piper Sandler, who have the equivalent of a buy rating on Salesforce stock, estimated in a note to clients that the cuts could lower operating expenses by $1.5 billion or more each year and widen the company's operating margin to 26% from 21%. [departure of Slack CEO Stewart Butterfield](https://www.cnbc.com/2022/12/05/slack-ceo-stewart-butterfield-leaving-salesforce-two-years-after-deal.html), who joined Salesforce as part of its [biggest acquisition ever](https://www.cnbc.com/2020/12/01/salesforce-buys-slack-for-27point7-billion-in-cloud-companys-largest-deal.html). "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." 31](https://www.cnbc.com/2022/11/30/salesforce-crm-earnings-q3-2023.html). [Salesforce](/quotes/CRM/) is cutting 10% of its personnel and reducing some office space as part of a restructuring plan, the company [announced Wednesday](https://www.sec.gov/Archives/edgar/data/1108524/000110852423000003/ex991-lettertoemployees.htm).

The San Francisco cloud computing software company will also be closing some offices, according to a regulatory filing Wednesday. Advertisement. “The ...

That includes $1 billion to $1.4 billion in charges tied to employee transition, severance payments, employee benefits and stock-based compensation. Approximately $800 million to $1 billion in charges are expected to occur in Salesforce’s fiscal fourth quarter that ends Jan. E-commerce giant Amazon and a wide range of other companies also have been jettisoning thousands of workers in recent months after expanding too aggressively during the pandemic. The layoffs are being made on the heels of a shake-up in Salesforce’s top ranks. Before Wednesday’s announcement, its shares had plunged more 50% from their peak of about $310 in November 2021. Benioff pioneered the method of leasing software services to internet-connected devices — a concept now known as “cloud computing.”

Salesforce, which employs more than 2000 people in Ireland, has informed staff it will layoff around 10% of its workforce and close some offices.

Twitter also cut half its workforce following its takeover by Elon Musk. "Of the aggregate amount of charges that the company estimates it will incur in connection with the plan, the company expects that approximately $1.2bn to $1.7bn will be in future cash expenditures," Salesforce added. Salesforce expects that it will incur charges of $1.4bn to $2.1bn in connection with the restructuring plan, of which $800m to $1bn will be incurred in the fourth quarter of its 2023 financial year.

Business software maker Salesforce is laying off about 8000 employees, or 10% of its workforce, as major technology companies continue to prune payrolls ...

The layoffs are being made on the heels of a shake-up in Salesforce’s top ranks. Salesforce also said Wednesday that it will be closing some of its offices, but didn’t include locations. The shares gained nearly 4% Wednesday to close at $139.59. Benioff pioneered the method of leasing software services to internet-connected devices — a concept now known as “cloud computing.” Benioff’s hand-picked co-CEO Bret Taylor, who also was Twitter’s chairman at the time of its tortuous $44 billion sale to billionaire Elon Musk, left Salesforce. [told staff that layoffs were coming](/article/twitter-inc-technology-business-layoffs-dfeced152095186df3e6d0937bfccceb) due to the economic landscape and the company’s rapid hiring in the last several years.

E-commerce giant Amazon and business software maker Salesforce are the latest U.S. tech companies to announce major job cuts.

Salesforce also said Wednesday that it will be closing some of its offices, but didn't include locations. Benioff's hand-picked co-CEO Bret Taylor, who also was Twitter's chairman at the time of its tortuous $44 billion sale to billionaire In November, Jassy told staff that layoffs were coming due to the economic landscape and the company’s rapid hiring in the last several years. Benioff pioneered the method of leasing software services to internet-connected devices — a concept now known as “cloud computing." The shares gained nearly 4% Wednesday to close at $139.59. technology companies to announce major job cuts as they prune payrolls that rapidly expanded during the pandemic lockdown.

E-commerce giant Amazon and business software maker Salesforce are the latest U.S. tech companies to announce major job cuts. Amazon said Wednesday that it ...

Salesforce will seek to reduce or eliminate leases in certain locations — but it isn't saying where. Could some of its hometown holdings be on the chopping ...

The company leases about 15,000 square feet at 181 Lytton Ave. In early 2022, workplace messaging software company Slack — which was acquired by Salesforce in 2021— listed all of the space it once occupied at 45 Fremont St. It still owns the property, and the company does not occupy space there. It also had about 705,000 square feet in San Francisco that was sublet at the time and 212,000 square feet available for sublease. [half of it for sublease](https://www.bizjournals.com/sanfrancisco/news/2021/03/10/salesforce-sublease-san-francisco.html) in March 2021. Its lease there expires in 2031 and so far, it does not appear that the company has attempted to offload any of its space inside of the signature tower. King Asset Management is the landlord. 31, 2022, the company had about 1.9 million square feet of leased and owned property in San Francisco, according to its annual report. The company gave up more than 200,000 square feet. Shorenstein Properties, which also owns Twitter's Mid-Market headquarters, owns the building. subsequently scooped up more than 53,000 square feet of the available space, and beauty giant Sephora subleased about 286,000 square feet. It is also seeing that we are continuing to evaluate."

E-commerce giant Amazon and business software maker Salesforce are the latest U.S. tech companies to announce major job cuts.

The layoffs are being made on the heels of a shake-up in Salesforce’s top ranks. Salesforce also said Wednesday that it will be closing some of its offices, but didn’t include locations. The shares gained nearly 4% Wednesday to close at $139.59. Benioff pioneered the method of leasing software services to internet-connected devices — a concept now known as “cloud computing.” Benioff’s hand-picked co-CEO Bret Taylor, who also was Twitter’s chairman at the time of its tortuous $44 billion sale to billionaire Elon Musk, left Salesforce. [told staff that layoffs were coming](https://apnews.com/article/twitter-inc-technology-business-layoffs-dfeced152095186df3e6d0937bfccceb) due to the economic landscape and the company’s rapid hiring in the last several years.

Regarding the recently announced Salesforce layoffs, Acceleration Economy Analyst Bob Evans pens a letter to Salesforce CEO Marc Benioff.

It’s time to bring your Industries business fully into the mainstream of who Salesforce is and what it does. [analyst network](https://accelerationeconomy.com/meet-our-analysts/) of CIOs, CEOs, CMOs— business leaders who are or have been your customers — to solicit their ideas for getting Salesforce back on track. In good economic times as well as bad, those partners have the potential to help Salesforce boost its growth rates to the levels your company has made into its standard. [Industry Cloud Top 10](https://accelerationeconomy.com/cloud-wars-top-10/)rankings, Salesforce has held the #1 position — but that’s now threatened by Oracle’s full-blown commitment to end-to-end industry solutions. So perhaps it is useful to point out the cloud-revenue growth rates of some competitors that you and Taylor, just three months ago, portrayed as lightweights in comparison to the Salesforce juggernaut: But there’s a big difference — a huge difference — between being the feisty newcomer who’s shaking things up and annoying the crap out of the leader, and then being the top dog. - And this final one, Marc, pinpoints what I think is the deepest challenge Salesforce faces: You and your company have begun to believe that customers will love whatever you decide to do because, well, you’re Salesforce! I offer my rationale in “ [Oracle, SAP Leapfrog Salesforce in Cloud Wars Top 10; IBM Jumps, ServiceNow Falls](https://accelerationeconomy.com/cloud-wars/oracle-sap-leapfrog-salesforce-in-cloud-wars-top-10-ibm-jumps-servicenow-falls/).”) [letter to employees announcing the layoffs](https://www.sec.gov/Archives/edgar/data/1108524/000110852423000003/ex991-lettertoemployees.htm) was heartfelt, elegant, and reflective of the unique “Ohana” spirit you have created within Salesforce over the past 23 years, and for that, you deserve a great deal of credit. And that you’ve begun to believe that Salesforce’s past performance is indeed an indicator of future success. While many CEOs in many industries would sell their souls for a growth rate of 14% — particularly in these troubled economic times — you and the company you’ve built are held to a different standard. (BTW, the two companies that jumped past you are the two you love to make fun of:

Amazon said it's slashing about 18000 jobs and Salesforce announced the layoff of its 10% workforce this week.

The layoffs are expected to be complete by the end of the company’s fiscal year of 2024, and affected employees based in the U.S. Jassy said the cuts would impact more than 18,000 employees, and builds on the 10,000 [job cuts announced](https://www.aboutamazon.com/news/company-news/a-note-from-ceo-andy-jassy-about-role-eliminations) in November. “With this in mind, we’ve made the very difficult decision to reduce our workforce by about 10%, mostly over the coming weeks.” “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so,” he wrote. Salesforce acquired Slack for around $27.7 billion in 2020. Those initial cuts were linked to Amazon’s Devices and Books business and voluntary reduction offers for employees in its People, Experience, and Technology (PXT) business. They’re not in heavy people expansion mode every year.” [announced](https://investor.salesforce.com/press-releases/press-release-details/2022/Bret-Taylor-to-Step-Down-as-Salesforce-Vice-Chair-and-Co-CEO-Marc-Benioff-to-be-Chair-and-CEO/default.aspx) in November that its co-CEO and Vice Chair Bret Taylor will step down at the end of this month and that Slack CEO Steward Butterfield will also [leave](https://www.nytimes.com/2022/12/05/technology/slack-ceo-stewart-butterfield-salesforce.html) Salesforce this month. The company noted in a Securities and Exchange Commission (SEC) 8-K filing it would incur between $1.4 billion and $2.1 billion in charges connected to the cuts, with up to $1 billion linked to its fourth fiscal quarter of 2023. Company executives cited ongoing economic uncertainty and bloated payrolls. however, the majority of role eliminations are in our Amazon Stores and PXT organizations.” There was no specific mention of any job cuts at its [Amazon](https://www.sdxcentral.com/directory/amazon/) and [Salesforce](https://www.sdxcentral.com/directory/salesforce/) rang in the new year with [massive job cuts](https://www.sdxcentral.com/articles/analysis/cisco-to-cut-more-than-4000-jobs/2022/11/), the former announcing thousands of new job cuts and the latter [cutting](https://investor.salesforce.com/financials/sec-filings/sec-filings-details/default.aspx?FilingId=16294472) 10% of its workforce.

Walnut Creek, California, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Functionize is a smart software testing solution that empowers QA teams the world over with the ...

Salesforce layoffs impact Tableau, Slack, MuleSoft, with cut jobs including a marketing director, a software engineer and customer success employees.

Tableau had [about](https://www.sec.gov/Archives/edgar/data/1303652/000130365219000004/a991-01q42018.htm) 4,000 employees as of 2019. [according](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001764925/000176492521000050/work-20210131.htm) to a filing with the U.S. MuleSoft had 3,400-plus employees as of 2021, [according](https://web.archive.org/web/20211229013008/https://www.mulesoft.com/about) to an archived image of MuleSoft’s website. [layoffs](https://www.crn.com/news/cloud/tech-layoffs-in-2022-23-companies-slashing-their-workforce) include [HP](https://www.crn.com/news/computing/hp-layoffs-will-cut-up-to-6-000-jobs-over-three-years), [Intel](https://www.crn.com/news/computing/intel-begins-layoffs-in-california-voluntary-unpaid-leave-program), [Elastic](https://www.crn.com/news/cloud/elastic-announces-layoffs-with-q2-earnings-hundreds-of-workers-cut), [Aqua Security](https://www.crn.com/news/security/aqua-security-lays-off-10-percent-of-its-workforce-citing-changing-economy), [AvePoint](https://www.crn.com/news/software/microsoft-365-focused-avepoint-lays-off-65) and [N-able](https://www.crn.com/news/managed-services/n-able-slashes-jobs-amid-restructuring-this-decision-is-never-easy-to-make-). [ServiceNow](https://www.linkedin.com/feed/update/urn:li:activity:7016542517823234048?commentUrn=urn%3Ali%3Acomment%3A(activity%3A7016542517823234048%2C7016599520012623873)&dashCommentUrn=urn%3Ali%3Afsd_comment%3A(7016599520012623873%2Curn%3Ali%3Aactivity%3A7016542517823234048)), [Genentech](https://www.linkedin.com/feed/update/urn:li:activity:7016464851476631553?commentUrn=urn%3Ali%3Acomment%3A(activity%3A7016464851476631553%2C7016683825581748224)), [FanDuel](https://www.linkedin.com/feed/update/urn:li:activity:7016464851476631553?commentUrn=urn%3Ali%3Acomment%3A(activity%3A7016464851476631553%2C7016619212894871552)&replyUrn=urn%3Ali%3Acomment%3A(activity%3A7016464851476631553%2C7016757851234717696)) and [Dave](https://www.linkedin.com/feed/update/urn:li:activity:7016464851476631553?commentUrn=urn%3Ali%3Acomment%3A(activity%3A7016464851476631553%2C7016510032049537024)) posted to LinkedIn encouraging laid off workers to apply for open jobs with their companies. [announced](https://www.crn.com/news/cloud/salesforce-layoffs-poor-earnings-ceo-departure-hiring-strategy-led-to-massive-cuts/6?itc=refresh) he was leaving the company. [posted](https://www.linkedin.com/posts/kellyewishard_datafam-activity-7016491657760014336-q6RP?utm_source=share&utm_medium=member_desktop) on LinkedIn about getting laid off. [said](https://www.linkedin.com/posts/chawlapaul_today-has-been-a-difficult-day-for-the-salesforce-activity-7016515278264049664-uU95?utm_source=share&utm_medium=member_desktop) in a LinkedIn post that most of his team and some peers were laid off. [posted](https://www.linkedin.com/posts/kellyewishard_datafam-activity-7016491657760014336-q6RP?utm_source=share&utm_medium=member_desktop) about a layoff on the social media network LinkedIn. [Salesforce To Lay Off 7,000 Employees: ‘Hired Too Many People’](https://www.crn.com/news/cloud/salesforce-to-lay-off-7-000-employees-hired-too-many-people-?itc=refresh)] [planned](https://www.crn.com/news/cloud/salesforce-to-lay-off-7-000-employees-hired-too-many-people-?itc=refresh) for enterprise applications vendor Salesforce have also affected the enterprise applications vendor’s subsidiaries Slack, MuleSoft and Tableau. [reported](https://www.businessinsider.com/salesforce-layoffs-hit-slack-product-development-and-engineering-org-2023-1) an unspecified number of layoffs at MuleSoft and a reduction of 10 percent of subsidiary Slack’s product and engineering organization.

Slack was purchased by Salesforce in July 2021 in a landmark deal. Over a year later, layoffs have hit.

At the time, it was unclear if the Salesforce layoffs included any of its subsidiaries, like Slack and Tableau. The San Francisco corporate communications firm is reportedly sacking around 10% of its staff as part of the broader Salesforce layoffs announced Wednesday, [San Francisco](https://sfgate.com/san-francisco) [tech](https://sfgate.com/tech) behemoth Salesforce, is reportedly conducting layoffs a day after its parent company announced that it will be decimating its staff in the coming weeks.