Salesforce Laying Off 700 Workers in Latest Tech-Industry Downsizing.

Salesforce, a tech company that specializes in cloud-based customer-relationship management software, is laying off around 700 employees, which represents about 1% of its workforce. This comes after the company cut 10% of its workers, or around 8,000 employees, last year. The layoffs are seen as a way for Salesforce to focus its spending on growth and increase its margins. Despite the layoffs, the company's stock has risen almost 80% in the past year. [Extracted from the article]