From mass job layoffs to the completion of acquisitions, here are some extracts from our most popular news stories over the last seven days.
Salesforce Starts 2023 With Mass Layoffs
Salesforce will cut 10 percent of its workforce in the coming weeks, highlighting how even the most prominent tech providers have not proven immune to the challenging economic climate.
The move will impact 8,000 employees, with those based in the U.S. set to receive a minimum of almost five months of pay, health insurance, and other benefits.
Marc Benioff, CEO of Salesforce, also indicated that those outside the US will secure a similar package while taking personal responsibility for the layoffs.
In a note to employees, he stated:
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.
“Our leadership will reach out directly to these employees, and provide clarity for their teams about changes within their organizations.”
These changes will come as part of a large-scale restructure, which Salesforce expects to cost between $1.4-2.1BN, per a recent regulatory filing.
A restructuring of this magnitude also implies that the move came as part of a strategy change. Indeed, some suggest the vendor will refocus on its core CRM business, given the economic outlook.
TELUS International Completes WillowTree Acquisition
TELUS International has completed its acquisition of WillowTree.
Following the purchase, the digital experience solutions provider will add key front-end design and build competencies to its current offering.
Now, the two organizations will join to drive TELUS’ digital transformation and support profitable growth for both companies.
Darren Entwistle, Chair of the Board of TELUS International and President and CEO of TELUS, commented: “Today marks another exciting step in TELUS International’s journey as we welcome the skilled and talented WillowTree team into our TELUS family.
“Indeed, in joining our team, WillowTree has further diversified TELUS International’s expansive client base, adding new marquee customers and amplifying cross-selling competencies globally.
Furthermore, our combined teams have a tremendous opportunity to accelerate TELUS’ digital transformation and support key product development across our business, most notably, within health and agriculture and consumer goods.
“Leveraging the collective technological and human innovation of our TELUS International and WillowTree teams, in combination with our social purpose-driven, client-centric culture and brand, we will further elevate the experiences of our customers around the world.”
