Salesforce, a US-based cloud software company, has announced the layoff of approximately 700 employees, which accounts for about 1% of its global workforce. This move comes as part of a wave of job cuts within the tech industry, following a period of significant hiring during the pandemic, with major companies such as Amazon and Google also implementing layoffs.

Despite the layoffs, Salesforce still has approximately 1,000 job openings across the company, indicating that the reduction in workforce may be more of a routine adjustment. The decision to downsize follows similar actions taken by other tech giants in the US, including eBay and Microsoft, which recently announced significant job cuts within their organizations.

Last year, Salesforce had already initiated workforce reductions, cutting jobs by 10% and closing some offices in response to the inflated workforce resulting from rapid pandemic hiring. These measures ultimately contributed to an increase in second and third-quarter revenue for the company, prompting an upward revision of its annual profit forecast.

Notably, Salesforce had previously announced plans to hire over 3,000 employees after the job cuts implemented in January last year, with the aim of driving up margins.

As the tech industry continues to navigate the evolving landscape shaped by the pandemic, the impact of these layoffs on the affected employees and the broader industry remains a topic of keen interest.