Salesforce said Wednesday that it will cut approximately 10% of its workforce and reduce its real estate footprint, making it the latest tech company to slash expenses as broader economic uncertainty continues to hit Silicon Valley particularly hard.In a letter to employees announcing the job cuts, Marc Benioff, Salesforce’s chair and co-CEO, admitted to growing headcount too much earlier in the pandemic and said most of the job cuts will take place over the coming weeks.“As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that.”As of January 2022, Salesforce reported a headcount of 73,541 global employees.Dan Ives, an analyst at Wedbush Securities, wrote in investor note Wednesday that the cloud-computing giant “clearly is seeing headwinds in the field and thus is trying to quickly adjust to a softening demand environment.” The analyst added that the company “clearly overbuilt out its organization over the past few years along with the rest of the tech sector.”Shares of Salesforce (CRM) were up more than 3% in early trading Wednesday following the announcement.Against that backdrop, Salesforce made a significant change to its C-Suite: co-CEO and Vice Chair Bret Taylor said he would step down from his roles at the company at the end of January."