During the year, the UK division of the massive cloud-based software company Salesforce reduced over 450 jobs while increasing its profits by more than 70%.

In the 12 months ending January 31, 2024, the US group's London-based division reduced its workforce from 3,427 to 2,964 employees, according to recently submitted accounts with Companies House.

Salesforce profit growth increased from £29.8m ($31.29 million) to £51.9m ($54.495 million) within the same time period, according to the new data. The latest accounts also show that its turnover grew from £1.54b ($1.617 billion) to £1.68b ($1.764 billion).

According to a board-approved statement, global economic and geopolitical circumstances have an impact on the group's overall performance. Significant market and economic downturns have previously occurred in the Tech layoffs UK and other major global economies, and they are likely to occur again in the future. These downturns can lead to a number of negative outcomes, including decreased demand for a range of goods and services, limited credit, low liquidity, decreased corporate profitability, volatility in the credit, equity, and foreign exchange markets, inflation, bankruptcies, and general economic uncertainty.

Furthermore, events beyond their control, like Russia's invasion of Ukraine, and global and domestic political developments, like current and prospective trade disputes, might have a substantially negative impact on their future sales and operational outcomes. The firm anticipates that its business will continue to grow in fiscal 2025, based on existing expectations about how much the geopolitical environment would impact the company moving ahead.

Salesforce Inc., a US-based company, recorded $34.8 billion in sales for the same fiscal year, up from $31.3 billion in the previous 12 months.

Co-founder, chairman, and CEO Marc Benioff stated in the company's annual report that the year has been one of change for Salesforce as well as the industry. These days, businesses are turning to AI to boost output, create closer bonds with clients, and boost profits. They consider this to be the most significant event in the history of the technology sector.