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News on Medial
Salesforce to cut 1,000 roles: Report
Economic Times
·
6m ago
Medial
Salesforce is set to cut over 1,000 jobs while hiring for new AI product roles, according to Bloomberg News. Affected employees can apply for other internal positions, though the specific divisions targeted were not disclosed. As of January 2024, Salesforce had 72,682 employees. Previous layoffs in 2024 included 700 personnel in January and another 300 in July. The company will announce its quarterly earnings on February 26. Salesforce has been expanding its AI-powered platform, Agentforce.
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Tech layoffs in January 2024: CEO fires the whole company over 2-minute call; Google, Microsoft, Amazon continue layoffs; job cuts at TikTok, Flipkart, Swiggy, and others
Startup News FYI
·
1y ago
Medial
In January 2024, several tech companies implemented job cuts. Frontdesk fired all 200 employees during a two-minute call, Google laid off hundreds of staff across various divisions, Microsoft cut 1,900 jobs, Amazon announced layoffs in Audiobooks, Prime Video, and Twitch divisions, Xerox reduced its workforce by 15%, Unity Software cut 1,800 jobs, Discord laid off 17% of its employees, eBay cut 1,000 jobs, Flipkart laid off 1,000 employees, Swiggy laid off 400 employees, Riot Games cut 11% of its staff, TikTok laid off 60 workers, and Salesforce announced 700 job cuts.
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Meta to lay off 5% of workforce amid AI-driven restructuring efforts
YourStory
·
7m ago
Medial
Meta, the parent of Facebook, Instagram, and WhatsApp, plans to cut 5% of its workforce, aiming at low performers. Around 3,600 employees will be affected. CEO Mark Zuckerberg stated this move aims to enhance performance management. He also revealed plans to replace some roles with AI by 2025. Other tech giants like Salesforce are making similar moves, citing improved productivity through AI, with Salesforce also expanding its sales workforce significantly.
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Tech layoffs 2025: Turmoil as ADM trims 700 jobs, Salesforce slashes 1,000 after Microsoft, Meta, and Amazon axe
Livemint
·
6m ago
Medial
In 2025, major tech and corporate firms, including ADM and Salesforce, are implementing significant layoffs amid market challenges. ADM plans to cut 700 jobs globally to save costs due to market uncertainties. Salesforce is laying off over 1,000 employees while hiring for AI initiatives, with laid-off staff able to reapply internally. Microsoft, Meta, and Amazon are also reducing jobs, citing performance and economic reasons, contributing to widespread industry employment turmoil.
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AI doing up to 50% of work at Salesforce: CEO Marc Benioff - The Economic Times
Economic Times
·
1m ago
Medial
Salesforce's CEO, Marc Benioff, revealed that AI handles 30% to 50% of the company's work, prompting a reduction in hiring and cost-saving measures, such as transitioning 500 customer service staff to different roles. This AI-driven productivity gains have led to significant workforce adjustments, including over 1,000 job cuts this year. While Salesforce plans to expand its sales team, it has paused technical hiring. Benioff joked about AI potentially replacing his role, highlighting automation's transformative impact.
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US-based Fidelity Investments fires 700 employees in first cut in 7 years
IndianStartupNews
·
1y ago
Medial
Fidelity Investments is set to cut approximately 700 positions, marking its first staff reduction since 2017. The move affects less than 1% of the company's workforce of around 74,000 and is aimed at better positioning the organization for the future. The announcement follows recent leadership changes, including the appointment of a new Chief Administrative Officer and Finance Chief. Despite the job cuts, Fidelity remains financially strong and is actively hiring for critical business roles. Meanwhile, Fidelity International, a separate entity, plans to reduce its global workforce by 1,000 jobs this year.
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Salesforce’s AI push slows hiring; piles pressure on engineers, customer service roles
Economic Times
·
2m ago
Medial
Salesforce is utilizing artificial intelligence (AI) to enhance productivity, leading to reduced recruitment needs. The company's Chief Financial and Operations Officer, Robin Washington, announced a shift of 500 customer service staff to other roles, aiming for a $50 million savings. Although hiring in technical roles has decreased, the sales team is expected to grow by 22% this year. Other tech giants like Microsoft are also leveraging AI to streamline operations and reduce staffing costs.
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Microsoft saves $500 million with AI, but with 15,000 job cuts - The Economic Times
Economic Times
·
1m ago
Medial
Microsoft has leveraged AI technology to save over $500 million in its call centers, boosting both employee and customer satisfaction. Despite these efficiencies, the company recently laid off around 15,000 employees, with no clear indication if AI directly replaced these roles. Similarly, Salesforce has slowed hiring due to AI usage, reallocating 500 roles internally and expecting to save $50 million. Their AI tools perform a significant portion of tasks, aiming to enhance productivity and reduce costs.
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Salesforce India revenue grew over 50% in FY23, India growth good; company to expand ops in Bengaluru
Economic Times
·
1y ago
Medial
Salesforce India reported a 50% increase in revenue in FY23, amounting to over Rs 6,000 crore. The country's growth has exceeded expectations amid a global slowdown and demand downturn in technology spending. The company plans to expand its office presence in Bengaluru and continue hiring in India. Salesforce had established a center of excellence in Hyderabad earlier this year and currently has over 10,000 employees in India, compared to 2,500 in 2020. Despite previously announcing layoffs, the company now plans to hire more than 3,300 employees for various roles.
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Salesforce Posts Strong Revenue With Promise of AI Boost
Livemint
·
8m ago
Medial
Salesforce has reported better-than-expected quarterly revenue, leading to a 10% increase in stock prices. This has sparked optimism about the company's AI strategy for its artificial intelligence products. Salesforce's revenue increased to $9.44 billion, surpassing the estimated $9.35 billion, while adjusted operating margin was 33.1%, exceeding the average estimate of 32.2%. The company's focus on AI tools called agents, designed for customer support and sales, has shown promise, and Salesforce plans to add 1,000 employees to sell its Agentforce product. The stock has rebounded over 50% this year due to optimism surrounding the new AI strategy.
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Salesforce blocks AI rivals from using Slack data, the Information reports
Economic Times
·
2m ago
Medial
Salesforce has restricted competing software firms from accessing and storing Slack data, emphasizing customer privacy, according to The Information. Firms can only temporarily handle this data with mandatory deletion thereafter. This decision could indicate Salesforce's plans to utilize Slack data for developing AI products, as it shifts focus from traditional cloud computing to machine learning and AI. The move aligns with increased scrutiny on AI firms regarding data handling practices. Salesforce has not yet commented on the report.
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