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Salesforce to Cut Over 1,000 Jobs While Expanding AI Workforce

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Salesforce is set to cut over 1,000 jobs as part of a strategic shift to focus more on selling artificial intelligence products. Despite the layoffs, the company will offer displaced employees the opportunity to apply for other positions within the organization, according to a report by Bloomberg News. The specific departments impacted by the layoffs have not been disclosed.

As of January 31, 2024, Salesforce employed 72,682 people, and the latest cuts come after a series of similar actions in recent months. In December 2023, CEO Marc Benioff highlighted the success of “Agentforce,” the company’s platform for AI-powered virtual agents, which secured over 1,000 paid deals. Earlier reports from January 2024 and July 2024 indicated smaller rounds of job cuts, including 700 and 300 roles, respectively.

Salesforce is actively hiring to bolster its workforce in AI sales, aiming to capitalize on growing demand for AI-driven solutions. The company is scheduled to report its quarterly earnings on February 26, 2025.

 

Renesas to Cut Less Than 5% of Global Workforce Amid Sluggish Chip Demand

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Renesas Electronics, a Japanese chipmaker specializing in automotive semiconductors, has announced plans to reduce its global workforce by less than 5%, which translates to fewer than 1,000 jobs. The decision comes as the company faces weaker-than-expected demand for its chips. Renesas, whose clients include major automakers Toyota and Nissan, also revealed that it would cancel planned salary increases for employees, including executives, scheduled for this spring.

Although the company did not specify the exact number of job cuts, it stated that the layoffs were aimed at improving its ability to execute its long-term growth strategy, particularly in light of ongoing market softness. Renesas is known for its automotive chips but is also working to diversify its business. In February, the company announced plans to acquire electronics design firm Altium for $5.9 billion as part of its efforts to broaden its portfolio.

Renesas’ shares dropped by 3% during Tokyo trading on Wednesday, reflecting investor concerns over the company’s response to the current market conditions.

 

Meta to Lay Off 5% of ‘Lowest Performers’, Plans to Rehire for Impacted Roles

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Meta Platforms announced that it will lay off approximately 5% of its workforce, targeting its “lowest performers.” The company, which employed more than 72,000 individuals as of September 30, will seek to fill the positions of those affected later this year. The decision is part of Meta’s ongoing efforts to “raise the bar” on performance management, according to a spokesperson for CEO Mark Zuckerberg.

Zuckerberg has previously indicated that more job cuts could be on the horizon in the coming months, as the company works to streamline operations and improve efficiency. This is in line with Meta’s broader shift toward prioritizing artificial intelligence (AI) investments, with billions being funneled into AI infrastructure to stay competitive in the rapidly evolving tech landscape. Many other tech firms, including Cisco and IBM, have made similar moves to redirect investments into AI.

The announcement follows significant restructuring efforts in 2022, which led to the loss of around 11,000 jobs. Meta’s “Year of Efficiency” in 2023 saw the company eliminate an additional 10,000 roles as part of cost-cutting initiatives.

In a related move, Meta also made headlines last week by canceling its U.S. fact-checking program and relaxing restrictions on certain controversial topics. This was seen as a response to pressure from conservative groups ahead of Donald Trump’s return to the U.S. presidential race.