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Salesforce To Cut About 1,000 Jobs : Reports

(RTTNews) - Salesforce.com Inc will cut about 1,000 jobs or about 2% of its workforce to streamline its business. Sales and customer-support roles are among those being eliminated, according to reports citing people familiar with the matter.

The news comes a day after the cloud-based enterprise software marker reported better-than-expected second-quarter results and lifted its financial outlook for the full year 2021. The company's revenue for the second-quarter rose 28.8% to $5.15 billion from $4.00 billion last year.

A spokeswoman for Salesforce reportedly said that the company is reallocating resources to position the company for continued growth. Therefore, the company is continuing to hire and redirect some employees to fuel its strategic areas. It will eliminate some positions that no longer map to its business priorities.

According to the reports, the company will give 60 days to the affected employees to find new jobs within the company. Otherwise, it will offer severance and pay benefits for six months for those who don't find new positions in the company.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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