American cloud-based software Salesforce will cut 1% of its workforce, letting go of 700 employees.

This week, we heard a lot of stories of companies laying off their workforces. Now, American cloud-based software Salesforce is the latest tech giant set to lay off 700 employees, constituting 1% of its global workforce. 

According to the Wall Street Journal, the latest job cuts followed a series of workforce reductions in 2023.

Last year, Salesforce CEO Marc Benioff's company laid off about 10% of its workforce due to its struggle to deal with a swarm of activist investors who wanted margins to increase faster than planned. Besides laying off employees, the tech company slashed employee perks such as retreats and clamped down on travel costs.

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