More important is the work of persuading long-term Salesforce users to learn to work in Slack rather than the familiar Salesforce environment, the main theme of an online event with Salesforce and Slack leaders timed for 1pm Eastern Time today. Today's launch contains no new products as such, but there are several new pre-configured integrations, workflows and an updated Salesforce for Slack app designed to help Salesforce customers quickly get up-to-speed in their use of Slack to streamline how they work. Salesforce today introduces the "Slack-First Customer 360," its new vision for sales, service and marketing in the work-anywhere world of the Vaccine Economy, founded on its $28 billion acquisition of messaging platform Slack, which closed last month. Starboard’s chief executive, Jeffrey Smith, said at the time that his firm had been engaging with management and that new executives, including Taylor who was promoted to the Salesforce role in November 2021, were better focused on balancing growth aspirations and profit delivery.Slack-First Service - creating a swarm (screenshot via Salesforce) In October, Starboard Value announced an undisclosed stake and said Salesforce was suffering from a valuation discount due to a “subpar mix of growth and profitability”. The size of the stake taken by Elliott has not been disclosed although the Wall Street Journal, which first reported the move, described it as “multibillion dollar” investment.Įlliott’s investment marks the second time in three months that an activist firm has taken a stake in Salesforce. Salesforce is valued at $151bn (£122bn) but its share price has fallen 32% over the past year. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply.
For more information see our Privacy Policy. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. It recently won a board seat at Pinterest, the online pinboard business, when the company added the Elliott portfolio manager Marc Steinberg as a director.
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The big US tech firms have made a series of redundancy announcements in recent months with Alphabet, the owner of Google, the latest to reveal job cutting plans, saying on Friday that it would reduce its worldwide workforce by 12,000 people.Įlliott has made many technology-focused investments. “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,” Benioff wrote. Salesforce employs nearly 80,000 people as of last October, compared with 49,000 at the beginning of 2020. In a message to staff, he blamed himself for expanding the company too rapidly during the coronavirus pandemic, amid surging demand for tech products and services as millions of people worked from home around the world. Benioff co-founded the company and will be the sole boss when his fellow chief executive, Bret Taylor, leaves at the end of this month.īenioff announced this month that Salesforce would be making 8,000 roles redundant, affecting about 10% of its workforce. Salesforce has been contacted for comment.
Elliott also buys businesses and is the owner of the UK bookshop chain Waterstones. In 2012, a dispute with Argentina over sovereign debt owned by Elliott led to the temporary impounding of an Argentinian naval ship in Ghana. In the same year Elliott accused the UK energy firm SSE of having a “lacklustre” business plan. In 2021 the British drugmaker GlaxoSmithKline, now known as GSK, resisted attempts by Elliott to make its chief executive, Emma Walmsley, reapply for her job before the company underwent a restructuring. However, Elliott, under the leadership of founder and co-chief executive, Paul Singer, is known for wielding the aggressive tactics associated with activist firms.
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Cohn, who has served on the boards of several technology companies including Twitter and eBay, called Salesforce “one of the pre-eminent software companies in the world”, adding that he has “developed a deep respect for Marc Benioff and what he has built”.
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