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Message
Salesforce to lay off 10% of workforce to cut costs amid economic downturn
Posted on 1/4/23 at 10:19 am
Posted on 1/4/23 at 10:19 am
quote:
Salesforce to lay off 10% of workforce to cut costs amid economic downturn
LINK
Salesforce Inc. said on Wednesday it will lay off 10% of its workforce as part of a plan to reduce operating costs and improve operating margins amid the challenging economic environment.
The software company also announced plans to reduce office space and exit some real estate in an effort to reduce expenses, it said in a filing with the Securities and Exchange Commission.
Salesforce CEO Marc Benioff said in a letter to employees Wednesday that the company "hired too many people" leading into the economic downturn as revenue accelerated during the pandemic, and now it's facing the consequence of that.
12
Posted on 1/4/23 at 10:21 am to member12
SalesForce is pretty great IME but I bet they'll be just fine with 10% less staff
Posted on 1/4/23 at 10:22 am to member12
I bet the CEO could take a 5% pay cut that will save a ton of money for the company.
Posted on 1/4/23 at 10:24 am to member12
Sales pipeline just busted.
Call in the Finance plumber.
Call in the Finance plumber.
Posted on 1/4/23 at 10:24 am to member12
quote:
Salesforce to lay off 10% of workforce to cut costs amid economic downturn
“Here’s why that is a good thing”
~CNN
Posted on 1/4/23 at 10:25 am to saturday
quote:
I bet the CEO could take a 5% pay cut that will save a ton of money for the company.
He makes about 1.5 million I think so 5% cut wouldn't change anything.
Posted on 1/4/23 at 10:26 am to GreatLakesTiger24
quote:
SalesForce is pretty great IME but I bet they'll be just fine with 10% less staff
Their software is great, but it’s complex.
Hopefully this doesn’t impact future support/enhancements.
Posted on 1/4/23 at 10:36 am to saturday
quote:
bet the CEO could take a 5% pay cut that will save a ton of money for the company.
That’s not how any of this works.
Posted on 1/4/23 at 10:38 am to member12
I got off on the wrong floor at the Salesforce Tower in Altanta once and wound up in their office space. It was a three-ring circus of exercise equipment, fancy espresso machines, etc.
Didn't seem like they were getting much done.
Didn't seem like they were getting much done.
Posted on 1/4/23 at 10:40 am to saturday
quote:
I bet the CEO could take a 5% pay cut that will save a ton of money for the company.
Whats the CEO's actual salary, minus stock options and performance bonuses?
Posted on 1/4/23 at 10:50 am to member12
Our president said this is the strongest economy in history, though. This doesn’t make sense.
Posted on 1/4/23 at 10:54 am to GreatLakesTiger24
I must be in the minority because I think Salesforce sucks. Management jumped on the hoorah bandwagon a few years ago with it and now it is just an added task in my field.
Pain in the arse.
Pain in the arse.
Posted on 1/4/23 at 10:54 am to USMEagles
quote:
I got off on the wrong floor at the Salesforce Tower in Altanta once and wound up in their office space. It was a three-ring circus of exercise equipment, fancy espresso machines, etc.
Friend of mine works for them in San Fran, is almost always off work and makes a shitload of money. I imagine the tech industry in general has a lot of fluff.
Posted on 1/4/23 at 10:57 am to PaperTiger
quote:
must be in the minority because I think Salesforce sucks.
Nah. Myself and everyone else I work with directly hates it. Same thing, just an added task for us.
Posted on 1/4/23 at 10:58 am to PaperTiger
quote:
I must be in the minority because I think Salesforce sucks.
It is great as a CRM in my opinion, which is what it was originally designed to do. But all sorts of companies try to make it do things it was never designed or intended to do.
Posted on 1/4/23 at 10:59 am to PaperTiger
quote:
I must be in the minority because I think Salesforce sucks. Management jumped on the hoorah bandwagon a few years ago with it and now it is just an added task in my field.
My old company 'implemented' this. Two years later and they are still trying to figure it out.
Posted on 1/4/23 at 11:00 am to member12
interesting. they’ve been poaching the frick out of our high end IT talent throwing out massive salaries and stock options.
Posted on 1/4/23 at 11:02 am to PaperTiger
quote:
Ruston, LA
quote:do you work for a smaller company? i can see the mom and pops having no idea how to implement it
I must be in the minority because I think Salesforce sucks. Management jumped on the hoorah bandwagon a few years ago with it and now it is just an added task in my field.
Posted on 1/4/23 at 11:04 am to saturday
quote:
I bet the CEO could take a 5% pay cut that will save a ton of money for the company.
List of Officier Salaries
quote:
As of January 2022, Salesforce reported a headcount of 73,541 global employees.
so cutting about 7350 employees.
Avarage salary at Salesforce
Say average if $65,000 (~$85,000 with labor burden of 30%)
so 7350 @ $85,000 = $624,750,000 in overhead cut...
even if you eliminated all 6 of the Executive salaries ($107m) you need to cut another 5x or ($517m overhead)
taking 5% cut from all the exec's would save a little over $5m. You could "save" 59 or the 7350 jobs they plan on cutting........
Posted on 1/4/23 at 11:06 am to GreatLakesTiger24
Management company was the one that implemented it and they manage over 150 properties across the US. Not big I know but not small either.
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