Cloud-based CRM software provider Salesforce has become the latest technology company to announce mass layoffs, cutting at least hundreds of jobs from its 73,000-person workforce.\n\n\u201cOur sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,\u201d Salesforce said in a statement confirming the layoffs.\n\nSalesforce has experienced a relatively successful year financially, with the company\u2019s second quarter revenue rising 22% year on year, driven by rapid adoption of its cloud-based CRM and other sales management tools. The company is facing pressure to cut costs since last month when activist hedge fund Starboard Value took a stake in the company and immediately called for Salesforce to increase its margins, although Starboard didn\u2019t explicitly call for a workforce reduction.\n\nSalesforce is not the only tech company to announce job cuts this month. Last week, Twitter\u2019s new owner, Elon Musk, fired almost half of the social media platform\u2019s workforce in addition to the company\u2019s senior leadership team.\n\nMeta has also announced it is reducing the size of its workforce by 13%, leading to 11,000 employees losing their jobs. In a statement, Meta CEO Mark Zuckerburg said that the company would also be taking a number of additional steps to become a \u201cleaner and more efficient company,\u201d by cutting discretionary spending and extending our hiring freeze through Q1.