I feel bad for anyone who loses their job in these tough times. I hope that everyone who is impacted is well prepared and that you will be able to land much better opportunities soon.
I'm an outsider but I had a few friends who worked here, and honestly, I was surprised by the news about the cuts here because I thought all along that Salesforce was doing just fine.
But now it looks like I didn't have the right picture?
2 replies (most recent on top)
In the current economic context, doing fine is not enough anymore.
With high inflation, activist investors won't be satisfied anymore with 5% return on investment (when compared to returns on cash), so now companies are expected to deliver 10, 15, 20%.
For a long time, Salesforce was focussing on growth rather than margin, and now it's time to focus on margin to satisfy investors. It means doing more with fewer people, be more productive etc.
That's capitalism for you. Benioff may have some other ideas of capitalism, ohana etc. but he doesn't own Salesforce anymore.
It depends on how you define "doing just fine". Salesforce is still profitable, but the meteoric growth is ending. They over hired and now need to correct. It's sad and unfortunate, but it is what it is.