Marc Benioff is the co-chief executive of Salesforce.com Inc. during panel sessions on Day 2 of the World Economic Forum in Davos (Switzerland), May 24, 2022.
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Marc Benioff, Salesforce’sAccording to sources familiar with the matter, co-founder and soon-to-be sole CEO, he indicated that further downsizing might be in store.
Salesforce announced the virtual meeting just days before. cutting 10% of jobsThese positions total more than 7,000. Hours later, AmazonIt said that it would lower headcount by 18,000. Technology companies are cutting their workforce as they face slowing growth and rising interest rates.
Benioff expressed concerns over productivity in certain areas of the sales organization. According to two witnesses who were able to see the meeting by video, about half of Salesforce account managers brought in over 95% of all deals. Another person stated that the meeting was scheduled for one hour, but lasted for more than two hours.
CNBC reported that one attendee said Benioff stated that the lack of productivity was due in large part to the new account executives.
FortuneReporting earlier on the meeting.
Salesforce grew rapidly during the pandemic as well as in the years preceding it. Cloud adoption was on the rise. It was fueled by large acquisitions like Tableau and Slack.
Salesforce is currently retrenching in response to revenue growth slowingIt faces an activist investorConcerned about operating leverage. Bret Taylor, the co-CEO of Benioff’s company, made his November announcement. surprise departureAfter sharing the top job for a year. He will be leaving at the beginning of January.
Benioff sent a Slack message last month to all employees, asking for help. ways to make new staffers more productive. On Thursday, Benioff voiced frustration at media reports about his comments.
One of the participants said that Benioff spoke out about trust as one of his core values.
The person stated that Benioff took a lot of time to reply to a question about Salesforce’s future.
Salesforce did not immediately respond to our request for comment.
WATCH: Jim Cramer says more tech layoffs are coming after Salesforce cuts 10% of its headcount
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