SaaS
Salesforce cuts staff amid acquisition spree and $50 billion share buyback
The layoffs come after CEO Marc Benioff boasted of record revenue and 'incredible cashflow' two weeks ago
Salesforce is undergoing another round of layoffs, its second this year, according to a filing with California’s Worker Adjustment and Retraining Notification office. The notice filed on Monday stated that 86 employees would be laid off from its Mission Street office in San Francisco on August 7. We're not sure if these were the only jobs cut, and Salesforce did not immediately respond to an email to its press office seeking comment. The company employed about 83,000 people globally as of Jan. 31, according to its annual report.
On the same day Salesforce filed its WARN notice, it announced a definitive agreement to acquire m3ter, a revenue management software company, for an undisclosed sum. This is the 13th acquisition that the company has announced in as many months. Just last week, Salesforce announced that it would acquire Contentful, which is part of the outfit’s plunge into a “headless” CRM where users can access Salesforce data and logic inside other applications such as Claude, ChatGPT, and Slack.
