Salesforce cut hundreds of employees from its payroll on Tuesday, the latest series of layoffs in the tech industry.
The e-commerce company confirmed on Tuesday that it had cut fewer than 1,000 workers from the company’s payroll, according to CNBC. Salesforce’s cuts are the latest layoffs for tech workers after several companies reported lackluster quarterly earnings and took action to prepare for a future recession.
“Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,” a spokesperson said in a statement.
Salesforce previously confirmed that it intends to hire employees at a slower rate than the previous year due to growing inflation and the state of the economy.
Several tech companies have begun layoffs in preparation for an expected recession. Meta is expected to announce large-scale layoffs this week, affecting thousands of workers.
Twitter also cut an estimated 3,700 workers last week under the leadership of its new owner, Elon Musk.
The financial tech company Stripe announced Thursday that it had laid off more than 1,000 employees in preparation for “leaner times.”
Amazon froze its hiring process on Thursday at the corporate level due to concerns about a recession. The ride-sharing company Lyft also announced that it was laying off 13% of its workforce over economic problems.