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...Salesforce, which owns workplace messaging platform Slack, confirmed it will sublet part of a floor in its tower in the City of London....
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...Top US software companies, such as Adobe, Salesforce and Zoom, have for now ruled out charging extra for the use of generative artificial intelligence, leaving the industry without an immediate revenue pick-up...
...elaine.moore@ft.com...
...hannah.murphy@ft.com...
...Please tell us what is going on: robert.armstrong@ft.com & ethan.wu@ft.com....
...The dissident shareholders circling Salesforce, including the likes of Elliott Management, knew that changes at Salesforce just required more willpower from Benioff....
...Elliott also nominated several directors to Salesforce’s board ahead of its results at the beginning of March, as part of an effort to force further concessions....
...Send us your market metaphors: robert.armstrong@ft.com and ethan.wu@ft.com. Margins: back to normal or impending doom? It’s been clear for a while that swollen margins are getting pinched....
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...Salesforce shares were up more than 12 per cent in early trading on Thursday....
...Let us know what you expect: robert.armstrong@ft.com and ethan.wu@ft.com....
...Salesforce, a big cloud-based software provider, is the latest to sound the alarm....
...Salesforce acquired workplace productivity tool Slack for $27.7bn in 2020, representing a 55 per cent premium to its share price at the time....
...Salesforce investors are concerned Benioff has become distracted....
...Salesforce expects to incur about $1.4bn-$2.1bn in charges associated with its new restructuring plan....
...“We look forward to working constructively with Salesforce to realise the value befitting a company of its stature.” Salesforce declined to comment....
...Read a transcript of this episode on FT.com...
...Trials and subscriptions are available at ignites.com....
...Visit ft.com/btmsurvey to submit your feedback. For further reading: Slimming down Big Tech Is Big Tech flabby?...
...However, Salesforce has been hit harder than its rivals....
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...Todd Machtmes Executive vice-president and general counsel, Salesforce The general counsel of cloud-based software company Salesforce prioritises values of trust and customer focus in the legal team....
...Enterprise software giant Salesforce recently said it would cut 10 per cent of its staff, while Twitter cut half its workforce of 7,500 after it was acquired by Elon Musk....
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