TELETRADER News
1/4, 1:15 PM
(Source: TeleTrader)
Salesforce.co...+2.32%
Salesforce to lay off more than 7,000 employees
Salesforce Inc. is restructuring its business, which includes laying off 10% of the workforce, more than 7,000 employees, and reducing its office space in some markets, MarketWatch reported Wednesday, citing Salesforce co-Chief Executive Marc Benioff in a letter to employees.
"The environment remains challenging, and our customers are taking a more measured approach to their purchasing decisions," Benioff said.
In addition, Benioff stated he takes responsibility for hiring "too many people" when revenues soared at the start of the Covid-19 pandemic. Most of the layoffs will occur in the next few weeks.
Salesforce shares were up by 3.06% after the announcement in the premarket session at 7:10 am ET.