Salesforce lays off employees in a new round of cuts

Salesforce CEO Marc Benioff Bloomberg/Getty Images Salesforce laid off employees, according to a WARN notice. Agentforce has had challenges, but annualized revenue surpassed $1 billion recently. Salesforce has stock dropped more than 30% this year on concern about AI replacing software. Salesforce laid off more employees in a new round of cuts, according people familiar with the matter and a regulatory notice in California. The cuts affected employees working on the company's Agentforce AI product, its Mulesoft IT integration tool, and its Marketing Cloud software, one of the people said. The second person confirmed job cuts, without specific details. The people asked not to be identified discussing sensitive matters. A regulatory filing in California, known as a WARN notice, listed 86 Salesforce job cuts in roles such as sales, general administration, and technology and product. Salesforce has been hit this year by concern AI models, tools and agents could replace some traditional software , including the company's main customer relationship-management offering. The stock is down more than 30% this year. Salesforce's answer to this threat is to develop its own AI offerings. In November, Business Insider reported use of Agentforce was relatively low and that its capabilities weren't living up to the company's demos. Still, this key product has made some progress. Last month, Salesforce reported that Agentforce annualized revenue had passed $1 billion. Salesforce's latest job cuts follow an earlier round of layoffs in January when the company eliminated fewer than 1,000 roles. Salesforce did not respond to requests for comment. The company had more than 80,000 employees at the end of January, according to an SEC filing. Have a tip? Contact this reporter via email at astewart@businessinsider.com or Signal at +1-425-344-8242. Use a personal email address and a nonwork device; here's our guide to sharing information securely . Read the original article on Business Insider