Salesforce Cuts About 300 Jobs To Seek 'Right Structure'; Layoffs Follow Cuts By Intuit And Other Tech Companies
Portfolio Pulse from Benzinga Newsdesk
Salesforce has announced the layoff of approximately 300 employees as part of its efforts to find the 'right structure' for the company. This move follows similar job cuts by other tech companies, including Intuit.
July 15, 2024 | 5:03 pm
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Salesforce has laid off around 300 employees to optimize its organizational structure. This decision is part of a broader trend of job cuts in the tech industry, including recent layoffs by Intuit.
The layoffs are part of Salesforce's efforts to optimize its structure, which could be seen as a cost-saving measure. However, the impact on the stock price is likely neutral in the short term as the market may have already priced in such industry-wide trends.
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IMPORTANCE 80
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Intuit has also recently announced job cuts, similar to Salesforce's recent layoffs. This indicates a broader trend of workforce reductions in the tech industry.
Intuit's recent layoffs are part of a broader trend in the tech industry. While this news is relevant, it is not as critical as the direct announcement from Salesforce.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50