Salesforce, the cloud computing giant, is reportedly laying off around 700 employees, amounting to about 1% of its global workforce. The company's decision to trim its workforce comes after it faced pressure from activist investors to increase margins. This move follows a series of job cuts last year, in which Salesforce laid off approximately 10% of its total workforce.

While Salesforce is reducing its headcount, it is still actively recruiting for about 1,000 new positions, suggesting that these layoffs may be part of a routine adjustment. The company has not commented on the news so far.

These job cuts at Salesforce are part of a larger trend sweeping the tech industry. Companies like Google, Amazon, and Twitch have also announced layoffs this year, affecting thousands of employees. The tech industry has been no stranger to layoffs, with more than 20,000 tech workers across 80 companies losing their jobs in January alone, according to tracker Layoffs.fyi.

As companies adjust budgets and plans for the new year, January has historically been a common month for layoffs. The COVID-19 pandemic has also impacted the tech industry, leading to financial pressures and reorganizations.

Overall, the tech sector is facing a wave of layoffs, and employees are bracing for uncertain times ahead.