I’m seeing vp’s losing their jobs on LinkedIn. Yikes #tech
It’s not a new layoff, part of the one they announced some weeks back. They probably haven’t reached their goal of 10% yet and will have more rounds.
They have a lot of fat to trim
Activist investors looking for quick returns This is for a cosmetic bump b4 they peace out
Look at their profit vs market cap. They need to improve their profit margin. Getting rid of expensive engineers one way to do it.
If the business model is low margin. Getting rid of employees cost make sense but if it's high margin business, putting resources to sale/market has more impact on the bottom line. IE: if a business has 90% margin, even if you fire every one, and have zero employees cost. You only boost profit by 10% max. Where if the business is very low margin like a grocery chain. 5% margin. Fire 10% employees will result in double the profit. Given Salesforce is on the high margin side. Firing expensive engineers doesn't move the profit needle that much.
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Salesforce hired too many Amazon managers. You know what happens when pipped Amazonians spread around the world.
Google laid off VPs and Directors too or are you drowning in Sundar's coolaid?
Dayummm