> In a letter to employees, Benioff blamed the layoffs on the company hiring too many people during the pandemic as "revenue accelerated," and took "responsibility" for hiring people leading into the current "economic downturn."
Or that companies have sussed out better competing products?
CEO's keep using that phrase. I don't think it means what they think it means.
They think it means "I take responsibility for the 10% jump in the stock price on the announcement of layoffs and expect my bonus to reflect the increase in shareholder value, please ignore the 60% decline in the shareprice over the last year which is due to market conditions and not my responsibility."
Its too early to call; but come the end of financial year its probably going to mean exactly what they think it means.