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Salesforce to lay off 7350 of its workforce

Salesforce is laying off more than 7,350 of its employees, in the latest round of job cuts in the tech industry as corporations cut back on software and other spending.

The San Francisco cloud computing software company will also be closing some offices, according to a regulatory filing Wednesday.

Benioff, who co-founded Salesforce in 1999, recently became the sole CEO after Bret Taylor resigned as co-CEO and vice chairman in November.

Benioff said employees being released will receive nearly five months of pay, health insurance, career resources, and other benefits.

Tech companies hired aggressively during the pandemic to keep up with soaring demand, but Salesforce had been growing rapidly since at least 2018. Its workforce more than doubled between then and 2021.

Salesforce employs about 73,500 people.

Writing by Tersoo Nicholas