Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Enterprise cloud computing company Salesforce has announced plans to undertake a global resutructuring, planning to cut 8000 (10%) jobs from its workforce. Saleforce leadership have acknowledged that a large drop in both their valuation and demand, combined with rapid recruitment schemes over the last years has combined to create an untenable financial position. As such, these job cuts and cost preventions measures are believed to be part of 'right sizing' process, putting Salesforce into position to meet previously set operational targets for 2026.
The company has said affected employees in the US will receive a minimum of five months pay, health insurance and other benefits while those outside the country will receive a "similar level of support".
Salesforce is an American market-leading multinational speacialised in cloud computing services and products. Most recently in the ERM Events Database, a business expansion was recorded in Ireland where it created 1500 new jobs (Salesforce 2019 - IE).
Update 2/2/2023:
It is now clear that the global 10% target will be roughly applied in Ireland, resulting in around 200 job losses being sought (Salesforce 2023 - IE).
Eurofound (2023), Salesforce, Internal restructuring in World, factsheet number 108153, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108153.
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