Salesforce Implements Additional Job Cuts in Ireland as Part of Profitability Focus: What's Going On?
Portfolio Pulse from Anusuya Lahiri
Salesforce, Inc. (NYSE:CRM) is planning further job cuts beyond the previously announced 10% reduction, as part of its focus on profitability. The recent layoffs affected about 50 sales and customer success roles in Ireland. This is separate from the companywide reduction announced in January. Salesforce's Tableau unit was hit hardest in the company's largest-ever round of job cuts. Other tech companies, including Microsoft Corp (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ: META), Amazon.com Inc (NASDAQ: AMZN), and Twilio Inc (NYSE: TWLO), have also undergone significant layoffs in the past year.
August 04, 2023 | 1:36 pm
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NEGATIVE IMPACT
Amazon has also undergone significant layoffs in the past year.
Amazon's job cuts could have a similar impact on its stock price as those at other tech companies.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Salesforce is planning further job cuts to boost profitability, which may impact its stock price.
Job cuts often lead to short-term stock price drops due to concerns about company stability and morale. However, they can also lead to increased profitability in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Meta Platforms has undergone multiple rounds of significant layoffs in the past year.
Job cuts at Meta Platforms could have a similar impact on its stock price as those at Salesforce and Microsoft.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Microsoft has also revealed plans for additional job cuts.
Like Salesforce, Microsoft's job cuts could lead to short-term stock price drops due to concerns about company stability. However, they could also boost profitability in the long term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Twilio has undergone significant layoffs in the past year.
Twilio's job cuts could have a similar impact on its stock price as those at other tech companies.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50