Salesforce is confronting slowing growth, an activist investor concerned about the company’s operating leverage and a set of high-profile departures.
Marc Benioff, Salesforce’s co-founder and soon to be sole CEO, indicated in an all-hands meeting on Thursday that more downsizing could be coming, according to people with knowledge of the matter.
The virtual meeting came a day after Salesforce announced that it was cutting 10% of jobs, amounting to over 7,000 positions. Hours later, Amazon said it would lower headcount by 18,000. Tech companies are shrinking their workforce for the first time in years as they reckon with slowing growth, rising interest rates and a potential recession.
Benioff expressed concerns about productivity in parts of the sales organization.
