Salesforce has joined ranks with technology peers Twitter and Meta as it starts laying off hundreds of employees this week. Credit: Sundry Photography / Shutterstock.com Cloud-based CRM software provider Salesforce has become the latest technology company to announce mass layoffs, cutting at least hundreds of jobs from its 73,000-person workforce. “Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,” Salesforce said in a statement confirming the layoffs. Salesforce has experienced a relatively successful year financially, with the company’s second quarter revenue rising 22% year on year, driven by rapid adoption of its cloud-based CRM and other sales management tools. The company is facing pressure to cut costs since last month when activist hedge fund Starboard Value took a stake in the company and immediately called for Salesforce to increase its margins, although Starboard didn’t explicitly call for a workforce reduction. Salesforce is not the only tech company to announce job cuts this month. Last week, Twitter’s new owner, Elon Musk, fired almost half of the social media platform’s workforce in addition to the company’s senior leadership team. Meta has also announced it is reducing the size of its workforce by 13%, leading to 11,000 employees losing their jobs. In a statement, Meta CEO Mark Zuckerburg said that the company would also be taking a number of additional steps to become a “leaner and more efficient company,” by cutting discretionary spending and extending our hiring freeze through Q1. Related content feature State of IT jobs: Mixed signals, changes ahead Layoffs and salary plateaus in the wake of exuberant pandemic-era IT hiring has the IT talent market in flux. And while employers pay premiums for hard-to-find AI skills, IT pros seek the same for filling in-office openings. By Sarah K. White May 17, 2024 10 mins Salaries Hiring IT Jobs feature Project manager salary: 5 key tips to earn more Project managers need to know what their worth is — and make others know it, as well. Here’s a look at project manager compensation, skills that increase a project manager’s pay scale, and how to negotiate a more competitive project By Josh Fruhlinger May 17, 2024 14 mins Salaries Project Management Careers feature Cyber resilience: A business imperative CIOs must get right With ransomware at an all-time high, companies need to understand that being cyber resilient means going beyond compliance to considering all aspects of a business, from operational continuity to software supply chain security. By Andrada Fiscutean May 16, 2024 9 mins Regulation Incident Response Data and Information Security feature Shine a Spotlight on Your Team’s IT Excellence with CIO Awards Canada By Allice Shandler May 16, 2024 4 mins Events IT Leadership PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe