Salesforce Layoffs: US-Based Software Company Plans to Lay Off People From Its Recently Acquired ‘Own’ Company, Says Some Roles Will Not Be Required
Salesforce, a US-based software major, announced layoffs affecting employees from its recently acquired company, 'Own,'. The company said that the Salesforce layoffs will impact some roles which would not be required.
San Francisco, November 20: US-based software company Salesforce reportedly plans to lay off several employees at its data management startup Own. The latest round of Salesforce layoffs will affect the roles that are less required by the company. Salesforce has also laid off several employees this year. The tech giant informed about the job cuts during a presentation and said some roles would not be required "post harmonisation."
Bloomberg reported that the Salesforce layoffs at Own startup will end on January 31, 2024. During the presentation, the US software company also said that some other jobs would be transitional and needed for three to 12 months to support the short-term integration. Salesforce acquired its Own company on September 5, 2024, by signing a definitive agreement. Own Company had been a leading provider of data protection and data management solutions. HSBC Layoffs Coming? Hundreds of Managers Asked To Reapply in New Corporate and Institutional Banking Division Amid Restructuring by New CEO Georges Elhedery.
The report said that other acquisitions and mergers, like Slack in 2021 and Tableau in 2019, added more workers to increase the overall headcount, which led to an increase in expenses and technical complexity. It said the Salesforce layoffs underscored its tighter approach to acquisition after years of aggressive expansion.
Salesforce has been on the path of growth since late 2022, as it took help from activist investors and made changes to the company, like disbanding the mergers and acquisitions committee. This led to a workforce reduction of 10% in early 2024. Following this, the software firm said that it would be more wise with future purchases. Associated Press Layoffs: New York-Based News Agency Announces 8% Reduction of Its Staff To Adopt ‘Digital-First’ Approach, Cater Customers’ Needs.
Salesforce bought data security firm Own for USD 1.9, making it the company's biggest acquisition. The merger has helped the company organise and analyse information across its apps. Ahead of the layoffs, the company said it would hire 1,000 more people to sell next-generation AI agent products.
(The above story first appeared on LatestLY on Nov 20, 2024 11:09 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).