![]() Minimum severance pay: five months of payĪdditional severance pay: no public mention Salesforce's net income dropped to $210 million in the quarter ending October 31, 2022, down 66% year-on-year from $468 million in the same quarter in 2021. "That's the only way I can say it, because there isn't an answer to say 'It's one and done' or 'We'll be done on this date or that date,'" Hyder said. ![]() The executive told staff that more job cuts are coming, but even many top-level managers didn't know when the next round would happen or who might be affected, Salesforce employees told Thomas and Stewart.Ĭhief people officer Brent Hyder said there would likely be "additional reductions and eliminations of jobs." "As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that," he wrote, saying laid off employees would get a notification email within the next hour.īenioff addressed the layoffs at an all-hands meeting two days later, but the discussion left employees flustered as the co-CEO dodged questions for two hours, Insider's Ellen Thomas and Ashley Stewart reported. Salesforce co-CEO Marc Benioff told employees in a letter on January 4 that his company would cut 10% of its employees, or an estimated 7,000 jobs, over a period of a few weeks. ![]() Salesforce chairman and co-CEO Marc Benioff speaks during the TechCrunch Disrupt SF 2019 conference at Moscone Center on Octoin San Francisco, California. Other benefits: full pay and benefits for 60 days, job placement services Minimum severance pay: unspecified, "above-market" pay Percentage of staff laid off: Less than 5% Microsoft's net income fell 12% to $16.4 billion for the quarter ending December 31, 2022, compared to $18.8 billion in the same quarter the year before, per its latest earnings report. "These are the kinds of hard choices we have made throughout our 47-year history to remain a consequential company in this industry that is unforgiving to anyone who doesn't adapt to platform shifts," he wrote. Nadella said Microsoft would take a $1.2 billion charge in the second quarter related to severance packages and other changes in the company. "It's important to note that while we are eliminating roles in some areas, we will continue to hire in key strategic areas," Nadella added in the memo. ![]() Some of the layoffs would begin that day, he wrote. Satya Nadella, the CEO of Microsoft, told employees in a memo on January 18 that the firm would cut 10,000 jobs through the end of the third quarter in 2023. Other benefits: payment for 2022 bonuses and remaining vacation time, full pay and benefits for at least 60 days, job placement services Health insurance: six months from layoff date When employees asked Pichai at a Town Hall meeting who would take responsibility for overhiring, he said the company's executives would take a "very significant reduction in their annual bonus."Īlphabet, the company that owns Google, said its net income slipped 26.5% to $13.9 billion in the third quarter of 2022, compared to $18.9 billion in the same quarter of 2021, per its latest earnings report.Īdditional severance pay: two weeks for every additional year at Google Some Googlers have criticized the company for announcing layoffs abruptly and through email, saying the dismissals have fractured the firm's long-held sense of stability. The latest round of job cuts are the biggest ever faced by Google in its 25-year history. He wrote that the layoffs would affect roles "across Alphabet, product areas, functions, levels, and regions." "The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here," Pichai wrote in a memo to employees. Google CEO Sundar Pichai announced on January 20 that the firm would lay off 12,000 employees, saying it had hired over the last two years for a "different economic reality than the one we face today." Mateusz Wlodarczyk/NurPhoto via Getty Images It often indicates a user profile.ĬEO of Alphabet and Google Sundar Pichai in Warsaw, Poland on March 29, 2022. Account icon An icon in the shape of a person's head and shoulders.
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