A new wave of job cuts has been sweeping through the tech industry as major companies announced layoffs over the month. According to a report by The Wall Street Journal, US-based cloud software solution company Salesforce is laying off about 700 employees, which is nearly 1% of its global workforce.
Salesforce still has 1,000 job openings across the company, the report adds.The report also cited a source to suggest that the move may be more of a routine adjusting of the company’s workforce. However, the company has yet to make an official announcement related to the latest job cuts.

Salesforce job cuts in 2023

In 2023, Salesforce reduced its workforce by 10% and closed some offices. This move was to counter the rapid hiring that happened during the pandemic and left the company with a bloated workforce.The workforce reduction helped the company’s earnings. These job cuts led the company to report a rise in second and third-quarter revenue and raised its annual profit forecast.
After announcing the job cuts in January 2023, Salesforce also said that it would hire more than 3,000 people in September 2023 to drive up its margins.

The fresh wave of job cuts in the tech industry

In the latest round of job cuts that hit the tech industry, tech majors including Google, Microsoft and Amazon have all announced layoffs after they hired heavily during the pandemic.
Earlier this week, eBay announced it would cut about 1,000 roles, which is an estimated 9% of its current workforce. Meanwhile, Microsoft said it would reduce its workforce at Activision Blizzard and Xbox by 1,900 employees.
Domestic food delivery platform Swiggy is also planning to let go of about 350-400 employees or around 7% of its workforce. The company’s tech team and a section of the customer care department (specifically all centres) are expected to be the most impacted by the move.
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