Salesforce Implements Additional Job Cuts in Ireland as Part of Profitability Focus: What's Going On?

Salesforce, Inc CRM eyes further job cuts beyond the announced 10% reduction, indicating a renewed focus on achieving profitability.

The recent layoffs affected sales and customer success employees in Ireland, with about 50 roles impacted, Bloomberg reports. The company stated that this move was part of an ongoing effort to ensure appropriate resource allocation.

Also Read: Salesforce Lays Out Harsher Policies Succumbing To Activist Pressure

These job cuts are separate from the companywide reduction announced in January, highlighting Salesforce's continued efforts to optimize its workforce.

Salesforce's plans to reduce headcount by approximately 8,000 by the end of fiscal 2024 represent the company's largest downsizing initiative.

The company has shifted its priorities from rapid growth and hiring to achieving profitability and has set aggressive margin expansion targets.

In March, Salesforce's COO, Brian Millham, mentioned that more job cuts were under consideration to enhance business efficiency.

Salesforce's Tableau unit was hit harder than other units in the company's largest-ever round of jobs cuts. Salesforce fired Tableau CEO Mark Nelson and more senior staff in December as part of its downsizing plans.

Microsoft Corp MSFT also revealed plans for additional job cuts beyond the 10,000 announced earlier in the year.

Other major tech companies, including Meta Platforms Inc META, Amazon.com Inc AMZN, and Twilio Inc TWLO, have also undergone multiple rounds of significant layoffs in the past year.

Price Action: CRM shares traded lower by 1.49% at $217.22 on the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.