US-software company Salesforce lays off hundreds of employees: Report

Salesforce CFO Amy Weaver said in an Investor Day presentation last month the company was aiming for $50 billion in reveunue by FY26 along with getting 25% more profitable in operating margin in the same time period.

New Delhi: Recession is around the corner according to experts and the tech industry can become the biggest victim. Tech companies around the world is laying off its workers in order to be better prepared for the imminent recession. Now another tech company Salesforce has announced to lay off hundreds of employees this week to cut excessive expenditure. According to the reports, it laid off around 1000 people globally. 

 “Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition.” Salesforce’s official statement on the layoffs.

Salesforce CFO Amy Weaver said in an Investor Day presentation last month the company was shooting for $50 billion in reveunue by FY26, it was also looking to get more profitable by aiming for a 25% operating margin in the same time period. The path to that goal is of course via cost cutting.  

Meta begins MASSIVE lay off

Meta Chief Executive Mark Zuckerberg spoke to hundreds of executives on Tuesday (local time) and confirmed about laying off employees on Wednesday morning. Zuckerberg appeared downcast in Tuesday`s meeting and said he was accountable for the company`s missteps. His over-optimism about growth had led to overstaffing, according to people present in the meeting, reported The Wall Street Journal (WSJ).

The company is expected to cut thousands of employees beginning Wednesday, and this will likely be the largest of the year to date in the tech sector, the Wall Street Journal reported, citing people in the know about the matter.

Employees who are to be laid off will receive at least four months of salary, the newspaper reported. According to the report, Zuckerberg mentioned recruiting and business teams as among those facing layoffs. An internal announcement of the layoff plan is expected at about 6 am Wednesday, reported Fox News.