The technology sector is hit by another wave of layoffs with a substantial financial cushion. Tech giant salesforce has begun notifying employees a fresh round of redundancies sweeping through its AI, Mulesoft IT integration platform and its Marketing Cloud software, reports claim. The fresh round of lay offs comes months after Salesforce CEO Marc Benioff suggested that the company could eventually stop adopting Agentforce name as its corporate identity. Agentforce is the company’s flagship AI product.
An insider revealed a regulatory filing was submitted by Salesforce in California indicating 86 job reductions across sales, technology, product, and general administration with employees receiving a severance package worth 30 weeks of pay. However, Salesforce has not publicly commented on the latest layoffs.
Senior directors and director-level employees receive 13 weeks of base pay. Senior managers and those below receive nine weeks. Workers aged 60 and older at any level receive four additional weeks on top of their standard entitlement.
Employees also receive three additional weeks for each year of service, with any partial year counted as a full one. The combined level- and tenure-based total is capped at 26 weeks, rising to 30 weeks for those aged 60 and above. All eligible US workers receive six months of COBRA healthcare continuation coverage, with those aged 60 or older receiving 12 months.
Earlier in January the tech giant had sacked 1000 employees in a drive to strengthen AI powered products. The company had more than 80,000 employees at the end of January, according to a filing with the US Securities and Exchange Commission.