The software company plans to cut around 8,000 jobs as business slows for tech companies. “We hired too many people leading into this economic downturn,” Salesforce’s chief executive said.
Category: Layoffs and Job Reductions
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Labor Market Strength Persisted Heading Into the Holidays
Government data from November showed job openings remained high, with rates of quitting and layoffs holding steady.
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Salesforce to Lay Off 10 Percent of Staff and Cut Office Space
The software company plans to cut around 8,000 jobs as business slows for tech companies. “We hired too many people leading into this economic downturn,” Salesforce’s chief executive said.
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As Silicon Valley Retrenches, a Tech Talent Shift Accelerates
Most tech jobs are now in mainstream industries like health care, banking and retail, which are increasingly in need of workers with digital skills.
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Google Employees Brace for a Cost-Cutting Drive as Anxiety Mounts
The tech giant has so far taken steps to streamline without mass layoffs, but employees are girding for deeper cuts.
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Jeep Plant Shutdown Imperils Illinois Town and 1,350 Workers
Stellantis plans to idle the factory, which makes the Cherokee, as it shifts to electric vehicles. Labor talks and a union election may be affected.
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For Many Wall Street Bankers, This Year’s Bonus Season Is a Bust
There were fewer mergers and public listings this year, shrinking investment banking revenue. For bankers, that means a smaller pot of money for bonuses.
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Streaming’s Golden Age Is Suddenly Dimming
After years of breakneck growth, the number of scripted TV series orders made by networks and streamers is in decline.
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How a Sprawling Hospital Chain Ignited Its Own Staffing Crisis
Ascension, one of the country’s largest health systems, spent years cutting jobs, leaving it flat-footed when the pandemic hit.
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Washington Post Publisher Announces Plan for Job Cuts
Fred Ryan, the news outlet’s publisher, said in a meeting with employees that cuts jobs would amount to a single-digit percentage of staff.
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The Week in Business: Labor Actions Sweep Britain
The national average gasoline price has fallen to where it was a year ago. China’s economy is not expected to bounce back quickly, as it rolls back “zero Covid” policies. And the Fed meets.