Salesforce to cut 1,000 jobs

Between the lines: If even tech companies that are doing well are pruning their ranks, these cuts could portend widespread job losses in the coming months, with steeper losses at those companies whose business has been more directly hit by the pandemic.

What they're saying: "We're reallocating resources to position the company for continued growth. This includes continuing to hire and redirecting some employees to fuel our strategic areas, and eliminating some positions that no longer map to our business priorities," a Salesforce statement said.