The San Francisco-headquartered firm had a workforce of 70,843 as of the end of October 2023. Credit: Sundry Photography/Shutterstock.

Salesforce, a cloud-based software services provider, is set to reduce its global headcount by approximately 700, reported Bloomberg, citing sources.  

The redundancies represent about 1% of the company’s total headcount. 

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This development comes amid a broader trend of cost-cutting measures within the technology industry.  

Citing a report by the Wall Street Journal, Reuters reported that Salesforce still has 1,000 job openings, suggesting a strategic realignment rather than a broad scale-back. 

As per a securities filing,  the San Francisco-headquartered firm had a workforce of 70,843 as of the end of October 2023.  

This latest round of layoffs follows a 10% reduction in headcount last year. 

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Salesforce’s move reflects the ongoing emphasis on cost management in the technology sector, with other giants such as Microsoft, Google, and Amazon also announcing layoffs this month. 

The software vendor has been under pressure from shareholders, including activist investors such as Elliott Investment Management, to improve profit margins.  

In response, CEO Marc Benioff has targeted the company’s sales and marketing division for expense reductions.  

A Salesforce representative has declined to comment on the layoffs. 

In related news, eBay is set to eliminate around 1,000 jobs, equating to 9% of its workforce, while Microsoft has announced the dismissal of 1,900 employees from Activision Blizzard and Xbox divisions.  

This follows Microsoft’s acquisition of Activision Blizzard for $69bn, a strategic move to bolster its competitive stance in the video gaming industry.  

Additionally, SAP, a German multinational software corporation, has disclosed a restructuring plan for 2024.  

It includes voluntary redundancies or job changes for 8,000 employees, aiming to reposition the company for accelerated growth with a focus on AI and cloud services.