{"id":41277,"date":"2020-08-27T09:40:15","date_gmt":"2020-08-27T09:40:15","guid":{"rendered":"http:\/\/icloud.pe\/blog\/?guid=ac16f0493c8bc84b39cec0d9a945517c"},"modified":"2020-08-27T09:40:15","modified_gmt":"2020-08-27T09:40:15","slug":"salesforce-to-cut-1000-jobs-despite-record-earnings","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/salesforce-to-cut-1000-jobs-despite-record-earnings\/","title":{"rendered":"Salesforce to cut 1,000 jobs despite record earnings"},"content":{"rendered":"


\n Bobby Hellard<\/a><\/span>
\n <\/span><\/p>\n

\n
\n
27 Aug, 2020<\/span><\/div>\n<\/p><\/div>\n<\/div>\n

\n<\/a><\/p>\n

\n

Salesforce is cutting around 1,000 jobs despite the company’s shares reaching\u00a0all-time record high following a strong second-quarter\u00a0earnings report.\u00a0<\/p>\n

Employees affected by the cuts will be given 60 days to find a new role within the company, according to\u00a0CNBC<\/em><\/a>\u00a0sources, which could mean the firm lays off significantly less than 1,000 staff.\u00a0<\/p>\n

<\/p>\n

\nSalesforce<\/a>\u00a0is reportedly preparing to list 300 new positions next week\u00a0as it shifts its business model due to the\u00a0impact of COVID-19<\/a>. In March, as the pandemic shut down large parts of the economy, CEO Marc Benioff pledged not to lay off employees for 90 days. That period came to an end sometime in June.\u00a0<\/p>\n

“We’re reallocating resources to position the company for continued growth,” a Salesforce\u00a0spokesperson said. “This includes continuing to hire and redirecting some employees to fuel our strategic areas, and eliminating some positions that no longer map to our business priorities.”<\/p>\n

Employees that don’t manage to land new positions will be offered severance and six months of pay benefits, the company said.<\/p>\n

The cuts come just a day after the cloud giant reported a\u00a0quarterly profit of $2.63 billion<\/a>\u00a0on revenue of $5.15 billion. Its revenue has grown 29% compared to the previous year and the firm expects total revenue of $20.7 billion in its current fiscal year, ending 31 Jan.<\/p>\n

Shares in the company have also never been higher, with stock surpassing a 19% gain recorded in November 2008.<\/p>\n

The impact of the coronavirus pandemic and the subsequent recession has forced a number of companies into mass redundancies and strategic shifts, such as permanent\u00a0remote working<\/a>\u00a0or a greater focus on digital operations. Salesforce’s financial officer Mark Hawkins said the company was making “strategic shifts” that reflected how and where people now work as a result of the pandemic.\u00a0<\/p>\n

“This means we’ll be redirecting some of our resources to fuel growth and areas that are no longer as aligned with the business priority will be de-emphasised,” he said. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bobby Hellard<\/p>\n

27 Aug, 2020 <\/p>\n

Salesforce is cutting around 1,000 jobs despite the company’s shares reaching\u00a0all-time record high following a strong second-quarter\u00a0earnings report.\u00a0
\nEmployees affected by the cuts will be giv…<\/p>\n","protected":false},"author":403,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-41277","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/403"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=41277"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41277\/revisions"}],"predecessor-version":[{"id":41278,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/41277\/revisions\/41278"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=41277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=41277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=41277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}