Will Salesforce layoffs come in the New Year?
The new year is still young, but Salesforce ( CRM -0.06%) has already made big headlines this year. The cloud software giant said it would lay off 10% of its employees, or about 8,000 workers, as part of a cost-cutting plan that also included reducing its real estate footprint. CEO Marc Benioff also hinted that more layoffs could come.
Will Salesforce cut sales in February?
Salesforce, sources say, has not provided much clarity on its timeline for layoffs, although it did confirm to Insider that more US cuts are in the works. Salesforce did not immediately respond to a request for comment on if sales will be cut in February and if increased layoffs are being discussed.
What are Salesforce's problems?
However, despite its track record of success, the company is facing a wide range of problems, both internal and external. After CEO Marc Benioff admitted the company hired too many new employees during the heady days of the pandemic, Salesforce is planning to lay off 10% of its staff.
What is Salesforce's biggest sales quarter?
Salesforce's fiscal year ends on January 31, and, like most companies who sell software to businesses, the fourth quarter is traditionally its biggest sales quarter. That's when sales people push their clients to sign contracts to make sales quotas.