Salesforce says it's cutting about 10% of its employees and closing some offices
Salesforce is laying off about 10% of its workforce, which includes about 8,000 employees.
The company is also reducing its office space in certain markets.
The restructuring plan will incur charges of $1.4 billion to $2.1 billion.
The cuts are due to customers taking a more cautious approach to spending.
Most of the layoffs will occur in the coming weeks.
Salesforce hired aggressively in the first two years of the pandemic, but has faced executive departures in recent months.
The employee restructuring plan is expected to be completed by the end of fiscal 2024.
The real-estate restructuring is expected to be completed in fiscal 2026.
Salesforce had nearly 80,000 global employees as of October 31, 2021.
Shares of Salesforce have fallen almost 46% over the past 12 months.