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 feature TransUnion transforms its business with IT On the heels of its Neustar acquisition, the consumer credit reporting agency seeks to give customers access to its troves of consumer data to fuel next-generation services through solutions platform OneTru. By Paula Rooney Apr 26, 2024 6 mins Financial Services Industry Digital Transformation Artificial Intelligence feature The 10 highest-paying industries for IT talent The tech industry isn’t the only hot spot for IT jobs, as there’s a growing demand for IT pros across every industry. These 10 verticals pay the most for IT roles, according to data from Dice. By Sarah K. White Apr 26, 2024 7 mins Salaries IT Jobs Careers brandpost Sponsored by Palo Alto Networks M&A action is gaining momentum, are your cloud security leaders prepared? Direct visibility is critical in M&A, and cloud-native application protection platforms (CNAPP) are ideal to provide this capability. By Amol Mathur, SVP & GM of Prisma Cloud, Palo Alto Networks Apr 25, 2024 4 mins Cloud Management news CIOs eager to scale AI despite difficulty demonstrating ROI, survey finds CIOs prioritize integrating AI into their organizations alongside cybersecurity, according to a new survey. By Sandeep Budki Apr 25, 2024 5 mins Artificial Intelligence 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