Marc Benioff led Salesforce Downsizes, Lays Off Hundreds Of Workers

Salesforce, Inc CRM laid off hundreds of people this week, TechCrunch reports.
Salesforce said it was less than a thousand and informed the people yesterday.
The news comes on the heels of activist investor Starboard Value taking an undetermined stake in the company last month.
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Salesforce recognized that it needed to cut back on spending, even before Starboard’s involvement.
Salesforce CFO Amy Weaver stated in an Investor Day presentation last month that even as the company was shooting for $50 billion in revenue by FY 2026, it was also looking to get more profitable by aiming for a 25% operating margin in the same period.
Salesforce had more than 73,000 employees before this action, so the layoff represented a fraction of the workforce.
Price Action: CRM shares are up by 0.41% at $147.70 premarket on the last check Wednesday.