Salesforce has joined ranks with technology peers Twitter and Meta as it starts laying off hundreds of employees this week. Credit: Sundry Photography / Shutterstock.com Cloud-based CRM software provider Salesforce has become the latest technology company to announce mass layoffs, cutting at least hundreds of jobs from its 73,000-person workforce. “Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,” Salesforce said in a statement confirming the layoffs. Salesforce has experienced a relatively successful year financially, with the company’s second quarter revenue rising 22% year on year, driven by rapid adoption of its cloud-based CRM and other sales management tools. The company is facing pressure to cut costs since last month when activist hedge fund Starboard Value took a stake in the company and immediately called for Salesforce to increase its margins, although Starboard didn’t explicitly call for a workforce reduction. Salesforce is not the only tech company to announce job cuts this month. Last week, Twitter’s new owner, Elon Musk, fired almost half of the social media platform’s workforce in addition to the company’s senior leadership team. Meta has also announced it is reducing the size of its workforce by 13%, leading to 11,000 employees losing their jobs. In a statement, Meta CEO Mark Zuckerburg said that the company would also be taking a number of additional steps to become a “leaner and more efficient company,” by cutting discretionary spending and extending our hiring freeze through Q1. Related content brandpost Sponsored by Broadcom Opening more opportunities for VMware Cloud Service Providers By Ahmar Mohammad, Broadcom VP, Partners, Managed Services, and Solutions GTM May 07, 2024 4 mins Cloud Computing news Red Hat seeks to shrink IT skills gap with Lightspeed gen AI Building on the success of Ansible Lightspeed, Red Hat will extend generative AI capabilities across its platforms, including Red Hat OpenShift and Red Hat Enterprise Linux. By Thor Olavsrud May 07, 2024 5 mins Red Hat Generative AI IT Skills feature CDOs’ biggest problem? Getting colleagues to understand their role Chief data officers face several challenges, including new demands from AI, but they must also sell the value of their jobs to coworkers unsure what CDOs do. By Grant Gross May 07, 2024 7 mins Chief Data Officer Data Governance Business IT Alignment interview SAP forecasts clarity in the cloud After customers and user groups that adopted S/4HANA early accused SAP of bait-and-switch tactics, CIO editor-in-chief in Germany Martin Bayer recently sat with Christian Klein, CEO of the multinational software company, to clear the air on cloud rea By Martin Bayer May 07, 2024 5 mins SAP Generative AI Cloud Architecture PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe