Marc Benioff

Amazon.com Inc.’s AMZN -0.79% layoffs will affect more than 18,000 employees, the highest reduction tally revealed in the past year at a major technology company as the industry pares back amid economic uncertainty. The layoffs are concentrated in the company’s corporate ranks and represent roughly 5% of that element of its workforce, and 1.2% of its overall tally of 1.5 million employees as of September.…

Salesforce is laying off about 10 percent of its workforce 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. "The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions," said CEO Marc Benioff in a letter to employees. "With this in mind, we've made the very difficult…

The headquarters of Seattle-based Amazon, which was initially expected to drop 10,000 employees. Photo: David Ryder/Getty Images…

Salesforce Inc. CRM 1.65% is laying off 10% of its workforce and reducing its office space in certain markets, the latest tech company cutting back after a pandemic-fueled growth spurt. The company disclosed the restructuring plan Wednesday in a filing with the Securities and Exchange Commission. It said it will incur about $1.4 billion to $2.1 billion in charges from the plan, with up to $1 billion in the company’s current quarter.…

There are two stocks in our portfolio that are in rough shape. But Jim Cramer said during the Club's December "Monthly Meeting" on Thursday that he has hope for both of them. Disney (DIS), Jim said, might just be his favorite down-and-out stock for 2023. But let's connect the dots on how he got there. He said he tried to work with recently-ousted CEO Bob Chapek , and even tried to understand his vision for the company. But ultimately, Jim came to a brutal conclusion: Chapek didn't have one and he had to go. Bob Iger is…

Tensions had been growing between Salesforce Inc.’s CRM -2.09% co-Chief Executives Marc Benioff and Bret Taylor over their responsibilities and how the business was run for months before the business-software provider said last week that Mr. Taylor would exit the role, people familiar with the executives said.Mr. Benioff, who is also co-founder, became frustrated about how Mr. Taylor was spending his time, the…

Marc Benioff might get lonely in the months ahead, but he certainly won’t be bored.  The co-founder and longtime chief of Salesforce CRM -9.80% is bidding farewell to the second person with whom he has attempted to share the top job. The cloud software giant said Wednesday that Bret Taylor is stepping down from his roles as vice chairman and co-CEO at the end of the current fiscal year, with Mr. Taylor…

Mr. Taylor, 42, will vacate the position Jan. 31, Salesforce said Wednesday. Mr. Benioff will become sole chief executive again and continue to serve as company chairman. The departure comes amid growing challenges for the tech industry in areas, such as cloud-computing software, that thrived during the pandemic. Salesforce announced the leadership change Wednesday along with its quarterly earnings. The company posted higher revenue in the latest quarter, citing customer demand against a challenging economic backdrop.…

What started off as a third-quarter rebound has turned into a flop for tech investors.The Nasdaq Composite tumbled 5.1% this week after losing 5.5% the prior week. That marks the worst two-week stretch for the tech-heavy index since it plunged more than 20% in March 2020 at the start of the Covid-19 pandemic in the U.S.related investing newsMeta is a buy as the social media giant embarks on plan to slash costsWith the third quarter set to wrap up next week, the Nasdaq is poised to notch losses for a third straight quarter…

Photo: Staff (Getty Images)Former employees at the meditation app Calm may need to stop and take a deep breath.On Thursday, the company’s CEO, David Ko, announced layoffs impacting 20% of its roughly 400 employees in a memo to staff seen by Gizmodo. That 20% translates to around 90 employees. The memo comes amid a growing wave of tech industry layoffs that’s left tens of thousands of tech workers scrambling for new jobs.In his memo, Ko said the decision came in an effort to focus on growth and efficiency.“I can assure you…