Salesforce reducing 10% of workforce to cut costs amid the economic downturn
Salesforce CEO Marc Benioff said in a letter to employees Wednesday that the company "hired too many people" leading into theas revenue accelerated during the pandemic, and now it's facing the consequence of that.
"The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions," Benioff said. Benioff said he is taking full responsibility for this action, and that the workforce reductions will take place over the coming weeks. Salesforce has become the latest in a growing list of companies that have implemented cost-cutting measures after hiring rapidly during the pandemic.
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