Slowdown hits IT sector, Salesforce to reduce workforce by 10 percent

In the last few months, many companies have reduced the number of staff due to slowdown and some other reasons. Cloud-based software company Salesforce said on Wednesday that it will reduce the workforce by about 10 percent as part of its restructuring plan and will also close some offices.

Earlier IT consulting firm Accenture in its business slowdown had suspected. The company said that clients, especially in the retail industry, are postponing business improvement projects. Salesforce’s share price has nearly halved this year. Due to the fear of slowdown in the US and the increase in interest rates, there is a lot of selling in the shares of tech companies. This is also affecting the price of these shares.

Amazon, which is one of the big e-commerce companies, has also laid off a large number of workers. The company plans to cut around 10,000 jobs. These will include retail and human resources divisions. technology Many companies like Facebook and Twitter have laid off in the sector. Amazon executive Dave Limp told in a blog post that the company has decided to reduce the size of its devices unit. He had said, “We are facing an uncertain macro economic situation. We have focused more in the last few months on the areas that are most important to our customers and business.” The number of workers of the company is about three lakhs. The company plans to reduce it by about three percent.

Meta, the company that runs the popular social media site Facebook, has also laid off more than 11,000 employees. This is about 13 per cent of the total workforce of the company. This is one of the biggest layoffs in tech companies in the last year. Meta is facing difficulties like rising cost and weakness in advertisements. Nearly half of the staff at the microblogging Twitter company was laid off after billionaire Elon Musk took it over in late October. After this decision of Musk, many companies had stopped advertising on Twitter.

(This news has not been edited by NDTV team. It is published directly from syndicate feed.)

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