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Salesforce, Vimeo Announce Massive Job Cuts
Business-software provider Salesforce and video-hosting company Vimeo announced sizable layoffs on Wednesday. Salesforce said it would reduce headcount by 10% and also downsize its office space in certain markets, while Vimeo will lay off 11% of its global workforce.
“The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions,” Marc Benioff, co-CEO of Salesforce, said in a letter to employees. Benioff took responsibility for hiring too many employees during the pandemic.
Salesforce wouldn’t disclose details of its plans to shrink its real estate footprint, according to published reports.
In an SEC filing Wednesday, Vimeo didn’t mention office space reductions. The company expects to complete the layoffs by the end of the first quarter, according to the filing.
The two announcements are the latest in a series of downsizing maneuvers in the tech sector over the past several months as demand has softened. Citing data from Layoffs.fyi, the Wall Street Journal reported Wednesday that tech companies cut more than 150,000 jobs in 2022.
Pictured: Salesforce Tower in San Francisco.
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