Shares in Salesforce tumbled Thursday after the software company signaled it isn’t growing as fast as it used to while shifting its focus to generating a bigger profit.
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The tech giant, which has been cutting costs and restructuring its real estate in the face of a possible economic downturn, put three contiguous floors at Salesforce Tower in downtown Indianapolis on the market for sublease.
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The global tech giant revealed Wednesday that planned to lay off about 10% of its employees companywide and shrink its real estate footprint. But execs are mum on the possible ramifications for downtown’s Salesforce Tower.
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The global cloud-computing giant revealed on Wednesday a major restructuring plan that will lay off about 10% of its employees and shrink its real estate footprint.
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Salesforce is projecting $60 billion in revenue for its fiscal year ending in January 2030–a target that would require average annual increases of 10% from its forecasted sales of $41.5 billion for its current fiscal year.
Salesforce shares are down 23% this year, putting them among the 30 worst-performing stocks in the S&P 500 Index. The company will release its second-quarter earnings Wednesday after the bell.
Metaimpact, a software company led by longtime local tech executive Scott McCorkle, has now raised $45 million since its launch in December 2018.
The deal could be strategic given the intensifying competition in the market for artificial intelligence-driven databases.
Investors have flagged some uncertainty from changes in the company’s rank of top executives.
Technology companies have grown more accustomed to regular job reductions after a massive wave of layoffs at the start of 2023.
The grant brings Salesforce’s total giving to Indianapolis Public Schools district to $5.5 million over the past seven years.
Other tech companies, such as Microsoft Corp., Alphabet Inc.’s Google and Amazon.com Inc., also signaled layoffs this month.
We [at Salesforce] understand the unique challenges facing downtown urban centers like the Mile Square, including cleanliness and security.
The group hopes to improve civic education in a state that ranks among the bottom nationally when it comes to voter registration and turnout.
IPS is expected to use the money to create sensory-friendly environments for struggling students, peer mentors and professional development sessions on social and emotional learning.
Indianapolis-based tech startup MetaCX, a High Alpha portfolio company, has attracted more than $30 million in investment since the company’s launch in 2018.
Shares in Salesforce experienced their steepest increase in almost two years on Wednesday after the company signaled that demand for business software is holding up despite a broader downturn for major tech firms. About 2,000 Salesforce Marketing Cloud employees are based in Indianapolis.
With the acquisition of British Columbia-based Groundswell Cloud Solutions, GyanSys now has more than 250 employees who work in the firm’s Salesforce practice.
Investors are clamoring for the top provider of cloud-based customer relations management software to prove it can expand beyond its core business. Any misstep is bound to be noticed.
Logik.io, which was launched in February, offers software that helps sales reps and customers secure price quotes in complex sales situations.
MetaCX’s newest round of fundraising brings its total to $31.5 million, including multiple investments from several venture capital organizations.
New Emarsys CEO Joanna Milliken, who starts in her new role Oct. 1, will oversee all of the Austria-based marketing tech company’s activities from Indianapolis. About 150 of the company’s nearly 700 employees are based in central Indiana.
Terminus, which offers a business-to-business platform that helps marketers connect with potential customers, said its acquisition of Boston-based Zylotech is its fifth acquisition to date, and its largest.
Salesforce, which sells customer-management software and has major operations in Indianapolis, joins a small number of companies that have reacted against the Texas law.
