Salesforce Inc. is laying off employees as the latest fiscal year is underway, even as the company also hires workers to sell new artificial intelligence (AI) products, according to people familiar with the matter.
According to the person, more than 1,000 characters will be affected because the information is private. The person added that displaced workers will be able to apply for other jobs internally.
Representatives for San Francisco-based Salesforce declined to comment. It is impossible to determine which departments are the focus of the reduction. As of January 2024, Salesforce had nearly 73,000 workers, when the fiscal year ended.
After massive layoffs in early 2023, technology companies are becoming increasingly accustomed to reducing jobs regularly.
Salesforce, a leading manufacturer of customer management software, has launched a recruiting craze for salespeople focusing on the company’s new AI agent products. But it has also been paying close attention to maintaining profit margins under pressure from aggressive investors in 2023.
“Just because we have a hot new product, it doesn’t mean we are ignoring the commitments made internally and externally when considering expanding this business,” said Brian Millham, Chief Operating Officer, Barclays The event held in December. “We are browsing the entire company, ‘Where can we get more efficiency? How can we continue to fuel the work we are doing for ongoing scale investments?”
Salesforce is expected to report fourth-quarter earnings by the end of February.
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