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About 24,151 tech workers lost their jobs, dominated by companies like Amazon, Salesforce, Coinbase and others.
A consensus of analysts had expected Salesforce () to earn $1.88 per share on $8.53B in revenue.
Ahead of a committee appearance today, was published detailing how Salesforce came to secure a role in the PACE project, as well as its dealings with Synergy 360.
All of the above products are currently in closed pilot and Salesforce did not reveal when they will become generally available.
Source: https://www.itworldcanada.com/article/salesforce-adds-generative-ai-to-einstein/531841
Also, IT group Salesforce, which specialises in management solutions and in cloud technology, announced on Wednesday that it was laying off about 10% of its employees, or just under 8 000 people.
Amazon is among several large tech companies that are trimming their ranks, including Cisco Systems Inc, Intel Corp, Meta Platforms Inc, Qualcomm Inc and Salesforce Inc.
Amazon said this month it’s cutting 18,000 jobs, although that’s a fraction of its 1.5 million-strong workforce, while business software maker Salesforce is laying off about 8,000 employees, or 10% of the total.
Among the tech companies that cut jobs last year including Meta, which laid off 11,000 workers; Lyft cut its staff its staff; Salesforce let more than 1,200 go.
Source: https://vator.tv/news/2023-04-07-bloodbath-over-100000-tech-workers-were-laid-off-in-q1
And like other dominant tech firms, Salesforce has an AI opportunity that promises to further cement its position.
Source: https://investorplace.com/2023/05/7-top-tech-stocks-to-watch-for-growth-opportunities/
As a group, equities analysts expect that Salesforce, Inc. will post 6.02 earnings per share for the current year.
A second activist investor, Elliott Management, bought a stake in Salesforce.
Source: https://www.nytimes.com/2023/02/13/technology/salesforce-marc-benioff-pressure.html
Based on this impressive financial performance in Q2 2024, Salesforce is well-positioned to continue its upward trajectory in Q3 2024, with expectations of solid earnings.
Can Elliott Management cause positive change at Salesforce?
Source: https://investorplace.com/2023/01/elliott-management-is-betting-billions-on-salesforce-crm-stock/
Channel Wealth LLC purchased a new stake in Salesforce, Inc. () during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission.
Coinbase announced it will lay off 25% of its workforce (950 employees) to “weather downturns in the crypto market,” joining other major companies including Goldman Sachs, Amazon and Salesforce in at the start of 2023.
Companies combined operations across email and fundraising to compete with the growing number of firms that did similar work with greater profit, like Salesforce and Blackbaud, whose clientele extends beyond the Democratic Party sphere.
Source: https://theintercept.com/2023/10/05/democrats-campaign-tech-layoffs-2024-bonterra-ngp-van-actionkit/
DUBAI, United Arab Emirates — McLaren Racing announced that it will partner with Salesforce, the global leader in customer relationship management (CRM), as an Official Partner of the McLaren Formula 1 Team.
Source: https://mid-east.info/salesforce-to-power-mclaren-racings-world-class-fan-experience/
Email and online marketing is a crowded field, the market abounds with competitors such as HubSpot (), Mailchimp, Customer Contact, Adobe's () Marketo and Salesforce ().
Source: https://seekingalpha.com/article/4658815-klaviyo-building-moat?source=feed_all_articles
Fairfield Bush & CO. boosted its position in Salesforce by 8.7% in the first quarter.
Finally, DA Davidson increased their price target on shares of Salesforce from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, March 2nd.