this post was submitted on 26 Jan 2024
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Salesforce is the latest tech company to cut jobs with 700 layoffs, report says (www.businessinsider.com)
submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Salesforce is the latest tech company to cut jobs with 700 layoffs, report says::The job cuts, which amount to about 1% of its workforce, follow a series of layoffs last year.

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[โ€“] farcaster@lemmy.world 17 points 9 months ago (1 children)

I think most companies biggest expense is in fact payroll. I would guess that's especially true in tech. 700 people. Let's imagine on average each cost the company 100k/year (pay+benefits+taxes+admin+etc). That's 70 million dollars a year, and probably a very conservative estimate.

[โ€“] SpaceNoodle@lemmy.world 12 points 9 months ago

For one, you forgot the additional $30MM going straight to Benioff's pockets.