SA: Salesforce to cut workforce by around 10%

SEEKING ALPHA reports:

– Salesforce (CRM) said Wednesday it is embarking on restructuring that includes laying off about 10% of its workforce.

– CRM rose 1.8% in premarket trading.

– “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,” co-CEO Marc Benioff wrote in a letter to employees.

– CRM will also exit real estate and reduce office space in some markets…

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