Tech company Salesforce is set to scrap 10 per cent of its workforce and close some offices.
Executives have not yet confirmed how many Irish jobs will be affected by the decision, with the company currently employing 2,100 people here. The redundancies will be introduced on a phased basis ending in 2024.
Salesforce’s founder Marc Benioff confirmed the news in a letter issued to staff. Mr Benioff added that affected employees in the US would receive a minimum of almost five months of severance pay following redundancy.
READ MORE : Amazon to slash over 18,000 jobs as part of massive layoffs
The co-CEO wrote: “As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that. Our local processes will align with employment laws in each country.”
He also added that the company was forced to consider job losses due to a “challenging environment,” as customers take a more restrained approach towards purchasing from Salesforce.
The redundancies will allow the company to move from $1.4 billion to $2.1 billion in charges. It will also pull a number of its global offices by 2026 in an attempt to cut costs.
The announcement serves as another blow to those employed in the tech sector as job losses escalate. Meta and Twitter have both commenced redundancies for their workforces in recent months due to the mounting economic strain.
Elsewhere, online payments company Stripe also confirmed that it was culling its workforce by 14 per cent. The technology firm, founded by Limerick brothers John and Patrick Collison, admitted to being “overly optimistic” about its economic development across 2022 and 2023.
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