Salesforce said it's laying off about 10% of its employees and closing some offices, as the company hired too many during the pandemic when things were looking good.
"The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions," co-Chief Executive Officer Marc Benioff said in a letter to employees filed with the Securities Exchange Commission. "With this in mind, we’ve made the very difficult decision to reduce our workforce by about 10 percent, mostly over the coming weeks."
Benioff said that employees were notified by email and Salesforce will "fully support them," including "offering a generous package." Those outside the U.S. will receive a similar level of support, and our local processes will align with employment laws in each country, he told the SEC.that Salesforce 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.
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