Summary
Salesforce laid off 4,000 customer support employees while the company continues to focus on artificial intelligence (AI). Despite these job cuts, Salesforce reported strong quarterly financial results. However, the company expects lower revenue in the upcoming quarter due to economic uncertainties.
Key Facts
- Salesforce reduced its customer support staff from 9,000 to 5,000 employees.
- AI is handling about one million customer conversations for Salesforce.
- Earlier this year, Salesforce reduced costs by 17% after laying off 1,000 employees.
- The company's revenue for the quarter ending July 31 reached over $10.2 billion, a 10% increase from the previous year.
- Salesforce increased its share buyback plan by $20 billion.
- The company expects the next quarter's revenue to fall below Wall Street's expectations.
- Salesforce CEO Marc Benioff receives an annual compensation package valued at $55 million.
- In 2023, Salesforce laid off 7,000 workers but later hired 3,000 employees.
