Salesforce
is the latest tech company cutting jobs, but so far the reported plans aren’t boosting shares in the cloud-based software company.
Salesforce
is laying off some 1% of its workforce, around 700 people, The Wall Street Journal reported, citing an anonymous source. It follows a much larger round of layoffs at the company last year, when Salesforce slashed around 8,000 jobs under pressure from investors to cut costs.
The reported layoffs at Salesforce look to be on the mild side of recent job cuts across the tech industry, with the company still having 1,000 open jobs, according to the report, meaning that it could be a routine adjustment of its workforce. The layoffs are intended to help Salesforce focus spending on growth, the report said.
Shares in Salesforce were 0.2% lower in premarket trading, slightly outperforming futures tracking the tech-heavy Nasdaq stock index, which were down 0.6%.
Salesforce didn’t immediately respond to a request for comment from Barron’s.
Write to Jack Denton at [email protected]
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