Salesforce has been a unique tech company, able to sell itself as a "family" while generating near-universal praise from Wall Street. But that is...
Salesforce Inc. has been a unique tech company, able to sell itself as a “family” that has higher ideals than just profit to its employees while generating near-universal praise from Wall Street as well.
The tower — omnipresent nearly everywhere in the city — was a beacon to the unbridled growth at Salesforce and Benioff’s influence on his hometown, as he became a billionaire and philanthropist. And in an era when tech conferences were ubiquitous in San Francisco, none sent bigger crowds into the city than Benioff’s annual Dreamforce conference, which regularly sent residents out of town to avoid the massive streams of true Salesforce believers.
The chaos has begun to change the formerly familial culture, and as a result, the attitude of many Salesforce employees. Benioff told The Wall Street Journal in an interview that at an executive retreat earlier this month, he proposed a strategy plan to rank employees based on metrics, including how much revenue salespeople bring in, a proposal that he later withdrew after employee protests.
All of that sets up Benioff for one of the most crucial earnings reports in the company’s history on Wednesday. Wedbush Securities analyst Dan Ives called it “a seminal call for the CRM story,” and suggested that Wall Street would not be happy “with the standard cookie-cutter conference call and view into fiscal-year 2024.”
“Typically as more people get involved, the decision-making elongates,” she said. “I would love to hear an update about the buyback or some cost savings, I am not sure we will get to any formal agreement.”
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