Salesforce layoffs impacted fewer than 1,000 employees on November 7, 2022, according to multiple media reports about the cloud-based CRM provider.
Salesforce has more than 70,000 employees worldwide, so the job cuts apparently represent only about 1% of the company's team. A statement to TechCrunch said:
“Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition.”
Although Salesforce remains a cloud software industry titan, the company's stock has fallen 52% of the past year amid disappointing growth forecasts. A shakeup could be looming. The evidence: Activist investor Starboard Value acquired a stake in Salesforce, CNBC reported in October.
Related: See all technology industry layoffs listed here.
Salesforce: Still Growing Despite Question Marks
Salesforce's revenue was $7.72 billion for Q3 of 2023, up 22% from the corresponding quarter the previous year. The company expects full-year revenue of $30.9 billion to $31 billion -- up 17% year over year. Those financial figures surfaced in an August 2022 earnings report.
