The cloud computing company is laying off 165 of its San Francisco employees; the cuts are expected to impact around 1,000 of its 50,000 employees in total. The news came as Salesforce’s stock was up more than 25 per cent Wednesday after it reported that its overall revenue grew 29 per cent year over year in its second fiscal quarter. (San Francisco Chronicle, Financial Times)
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The cloud computing company is laying off 165 of its San Francisco employees; the cuts are expected to impact around 1,000 of its 50,000 employees in total. The news came as Salesforce’s stock was up more than 25 per cent Wednesday after it reported that its overall revenue grew 29 per cent year over year in its second fiscal quarter. (San Francisco Chronicle, Financial Times)
Talking point: In March, Salesforce CEO Marc Benioff pledged to avoid layoffs for 90 days during the pandemic and urged other CEOs to follow suit. A spokesperson told the San Francisco Chronicle the company was now “reallocating resources to position the company for continued growth,” adding that “this includes continuing to hire and redirecting some employees to fuel our strategic areas, and eliminating some positions that no longer map to our business priorities.”
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