Salesforce today announced layoffs impacting an estimated 1000 to 2000 people in Sales Distribution and Specialist groups. The layoff's come despite an all time high for Salesforce [CRM] stock and Salesforce beating analyst estimates for their Q1 and Q2 revenue results.
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Of course there will not be a list 'circulating.' That is silly. Can you imagine management sending out a list of peoples names? They would be sued.
Has there been a list circulated yet of those laid off to help get them back on the market?
I was laid off prior to the pandemic and based on entirely personal reasons. Being transparent about my career aspirations to move departments was enough to get me fired. At the same time there are efforts to increase psychological safety. A company where managers can fire people they don’t like will soon be like any other. With this approach now I’m pretty sure the cultural USP of Salesforce is heavily eroding.
It is not about business, market or Adam Smith! It is about preaching one thing - for marketing purpose only - and internally treat employees as "fat" that need to be cut as usual. Ohana, family, business as a platform for a New Capitalism are just a way to look good in Davos and get more from investors. It is worst than be a real and transparent capitalist. It is a "fake news capitalism".
I was laid off. Sounds like there were trying to meet a "cut the fat" quota as well. I'm a single Mom and so stressed out right now. I started crying on the phone with IT today about it - the poor guy didn't know what to say to me. I am dreading trying to find a new job in this remote climate and with a pandemic going on. We have 60 days to find a different position within the company, but with that many layoffs, I guess I'm just another brick in the wall.
What a joke. Benioff buys unprofitable companies and revenue to get to his $20B target (versus organic growth), post one-time profit from investment gains to exceed analyst earning estimates, fools analysts into raising expectations which drives the stock price higher, then cuts expenses to ensure that the company is profitable when future investment gains evaporate. Uses the artificially higher stock price to buy more companies to get to his next revenue target. Rinse and repeat. Ohana my a–.
"Business is business" and "It's okay to cut fat" are some pretty rich f—ing takes when talking about a company that a) just put up record numbers for the last quarter or two, and b) never f—ing shuts up about "ohana" and everyone being one big family.
It's not cutting fat, it's cutting out people's f—ing health care during a pandemic. It's f—ing reprehensible.
Business is business, but daaaaaamn.
It’s okay to cut fat.
Unbelievable!! Specially given the marketing trumpet Benny blows on their Ohana values.
What amazing Q2 results for the company and still a low act of laying off people in Covid-19 times. Best of luck to those who are impacted.