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The Wall Street Journal reported on Wednesday that Salesforce was laying off workers at more than a dozen locations around the world, including Canada. The news comes a day after Salesforce, reported a 29% rise in revenue to $5.15 billion and increased its outlook for annual sales. The rosy outlook helped Salesforce's stock rise by 26% Wednesday. The company has now gained 67% this year. While layoffs are an unfortunate situation for employees, it is not the end of the world for Salesforce.
Service Cloud
After the announcement of record quarterly sales, Salesforce.com Inc. has begun notifying some of its staff that they may face layoffs. Although the news is disappointing for employees, it is encouraging for those in the tech industry. CEO Marc Benioff has pledged not to conduct any significant layoffs for 90 days during this "job pandemic." He also called on other CEOs to follow suit. The layoffs aren't the only sign that the company is facing difficulty growing.
The company has made a number of cuts, most recently in Asia. While the company was able to keep its employees' hourly wages, it's still facing problems with finding new talent. In recent months, Salesforce has been struggling to recruit software engineers with a strong resume. It recently moved into China and started recruiting software engineers at all levels in Guangzhou. Before that, the company did not even have a China presence. Until mid-year, it did not even have an R&D team in China. Its Asia Pacific headquarters is in Singapore.
Salesforce Platform
The Wall Street Journal reported that Salesforce had announced 1,000 layoffs for its Platform business. Those job cuts represent less than one percent of the company's 54,000 employees. The layoffs were a shock to some, since the company announced record quarterly earnings Tuesday. Salesforce's stock closed 26% higher yesterday. The company declined to give a reason for the layoffs. However, Salesforce did note that it was "accelerating" spending and pulling spending originally earmarked for next year into the second half of this year.
While the company's recent growth and recent acquisition of Tableau may mean the decline in its Platform and Other segment, it isn't surprising considering that it could incorporate the workforce into the other parts of its business. But there are some questions surrounding the company's business practices. First and foremost, layoffs raise ethical issues regarding the company's business practices. Second, it is important to note that Salesforce is rapidly expanding into new markets, including remote work. As a result, layoffs in the platform business will have little impact on the company's stock price. Salesforce's layoffs will only be temporary, and there's a chance that the company will have another round of layoffs by the end of 2020.
Configure-price-quote software
The company is cutting employees in more than a dozen locations worldwide, including Canada. This move comes as sales teams focus on other projects like Service Cloud and Salesforce Platform. As a result, configure-price-quote software is losing some employees. However, that's not the only reason for the layoffs. A recent Aberdeen Group Reports shows that businesses using CPQ see a 28% reduction in sales cycles and a 49% increase in proposal volume per representative per month. Furthermore, companies using CPQ see a 105% increase in average deal size.
CPQ (configure-price-quote) software is a type of sales tool that allows companies to create customized quotes based on their customer data. This type of software allows salespeople to create sales quotes quickly by bringing together all necessary information on a single centralized platform. The software's capabilities enable it to handle complex products like a heavy truck that comes with a variety of engines and chassis.
Freelance consultants
As the company continues to lay off employees, there is a need for more in-house consultants, and one way to do so is by freelancing. Freelance consultants need to be registered with HMRC, and registering early will save them from a long phone call when it comes time to declare income in April. There are a few tools that freelance consultants can use to stay on top of their expenses and hours. Harvest and Timely are two great options for hour tracking.
One thing to keep in mind when working as a freelance consultant is that freelancers have the flexibility to shift jobs at any point. It is much easier for Salesforce to offload Contractors rather than lay them off. Freelance consultants typically have many clients and can end a project anytime. This also allows them to maintain a steady income without being reliant on any one company. A freelance career in Salesforce is a rewarding career choice, but you will need to find a niche that suits your capabilities and requirements.
Service Cloud
After the announcement of record quarterly sales, Salesforce.com Inc. has begun notifying some of its staff that they may face layoffs. Although the news is disappointing for employees, it is encouraging for those in the tech industry. CEO Marc Benioff has pledged not to conduct any significant layoffs for 90 days during this "job pandemic." He also called on other CEOs to follow suit. The layoffs aren't the only sign that the company is facing difficulty growing.
The company has made a number of cuts, most recently in Asia. While the company was able to keep its employees' hourly wages, it's still facing problems with finding new talent. In recent months, Salesforce has been struggling to recruit software engineers with a strong resume. It recently moved into China and started recruiting software engineers at all levels in Guangzhou. Before that, the company did not even have a China presence. Until mid-year, it did not even have an R&D team in China. Its Asia Pacific headquarters is in Singapore.
Salesforce Platform
The Wall Street Journal reported that Salesforce had announced 1,000 layoffs for its Platform business. Those job cuts represent less than one percent of the company's 54,000 employees. The layoffs were a shock to some, since the company announced record quarterly earnings Tuesday. Salesforce's stock closed 26% higher yesterday. The company declined to give a reason for the layoffs. However, Salesforce did note that it was "accelerating" spending and pulling spending originally earmarked for next year into the second half of this year.
While the company's recent growth and recent acquisition of Tableau may mean the decline in its Platform and Other segment, it isn't surprising considering that it could incorporate the workforce into the other parts of its business. But there are some questions surrounding the company's business practices. First and foremost, layoffs raise ethical issues regarding the company's business practices. Second, it is important to note that Salesforce is rapidly expanding into new markets, including remote work. As a result, layoffs in the platform business will have little impact on the company's stock price. Salesforce's layoffs will only be temporary, and there's a chance that the company will have another round of layoffs by the end of 2020.
Configure-price-quote software
The company is cutting employees in more than a dozen locations worldwide, including Canada. This move comes as sales teams focus on other projects like Service Cloud and Salesforce Platform. As a result, configure-price-quote software is losing some employees. However, that's not the only reason for the layoffs. A recent Aberdeen Group Reports shows that businesses using CPQ see a 28% reduction in sales cycles and a 49% increase in proposal volume per representative per month. Furthermore, companies using CPQ see a 105% increase in average deal size.
CPQ (configure-price-quote) software is a type of sales tool that allows companies to create customized quotes based on their customer data. This type of software allows salespeople to create sales quotes quickly by bringing together all necessary information on a single centralized platform. The software's capabilities enable it to handle complex products like a heavy truck that comes with a variety of engines and chassis.
Freelance consultants
As the company continues to lay off employees, there is a need for more in-house consultants, and one way to do so is by freelancing. Freelance consultants need to be registered with HMRC, and registering early will save them from a long phone call when it comes time to declare income in April. There are a few tools that freelance consultants can use to stay on top of their expenses and hours. Harvest and Timely are two great options for hour tracking.
One thing to keep in mind when working as a freelance consultant is that freelancers have the flexibility to shift jobs at any point. It is much easier for Salesforce to offload Contractors rather than lay them off. Freelance consultants typically have many clients and can end a project anytime. This also allows them to maintain a steady income without being reliant on any one company. A freelance career in Salesforce is a rewarding career choice, but you will need to find a niche that suits your capabilities and requirements.
