“As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that,” Benioff said.
Most of the job cuts will occur over the coming weeks, Benioff said. Affected employees in the United States will get a minimum of about five months pay, health insurance and other benefits.
Salesforce is among several tech companies that have announced layoffs or other cost cutting measures as fears of a potential economic recession grow.
“We are entering 2023 with a more focused strategy to simplify Vimeo, and ultimately, our team size and composition needs to reflect that focus,” Vimeo CEO Anjali Sud said in a message to employees. “This reduction enables us to achieve our growth and profitability goals in a way that is far less dependent on the broader market, putting us in full control of our destiny.”
Source: USA Today Technology