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☆ Marc Benioff tells Salesforce workers that new employees are 'facing lower productivity'
▼ + stars: | 2022-12-16 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Salesforce co-CEO Marc Benioff told employees in a Slack message on Friday that the company's newest hires aren't being productive enough, and he asked for feedback as to why that's the case. Last year, Salesforce acquired communications app Slack, and Benioff said people can work very effectively from their homes. On Friday he highlighted an issue that he said was affecting employees who joined Salesforce this year and last. Here's the full text of Benioff's Slack post:How do we increase the productivity of our employees at salesforce? New employees (hired during the pandemic in 2021 & 2022) are especially facing much lower productivity.

☆ Leaked audio: Salesforce execs cancel famously lavish holiday parties and dodge layoff questions while imploring workers to 'focus on delivering Q4'
▼ + stars: | 2022-12-13 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

Salesforce chief people officer Brent Hyder addressed layoff rumors in a town hall meeting. Benioff did not join Tuesday's town hall, according to two Salesforce employees. In a Slack screenshot viewed by Insider, one Salesforce employee bemoaned a lack of transparency from management on the subject of impending layoffs. Salesforce also announced in the town hall meeting that it's cancelling holiday parties this year. Are you a Salesforce employee or do you have insight to share?

☆ In a leaked all-hands recording, Salesforce CEO Marc Benioff discussed executive departures and vowed again to try and win them back
▼ + stars: | 2022-12-12 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Salesforce is experiencing an executive exodus as co-CEO Bret Taylor and others resign. Marc Benioff addressed the exits in the company's latest all-hands, vowing to recruit them back. Salesforce cofounder and CEO Marc Benioff addressed the company's recent executive exodus during a company all-hands last week, according to a recording viewed by Insider. Taylor's plans to leave the company became public Nov. 30 — exactly one year after taking over as co-CEO alongside Benioff. At the all-hands, Benioff put a cheerful spin on the exodus, emphasizing yet again plans to pursue those who have left.

☆ Salesforce asked some managers to rank their lowest 10% of employees, insider says, as Benioff tells employees to expect 'changes' in a leaked all-hands meeting
▼ + stars: | 2022-12-12 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Some managers were asked to rank their bottom 10% of employees, one person familiar told Insider. Some Salesforce managers were asked as recently as last week to rank employees to identify their bottom 10%, one person familiar with the instructions told Insider. Salesforce declined to comment on additional layoffs, cost cutting and directives to managers to rank employees. Benioff tried to downplay the question, saying in the all-hands that questions about personnel changes come up on every meeting with employees. Employees recently told Insider about what they see as a shift in how the company treats them.

On the agenda today:But first: Ashley Stewart, a chief tech correspondent, is giving us a behind-the-scenes look at Salesforce's succession crisis. Salesforce's Marc Benioff. Jemal Countess / StringerOver the past week or so, at least six top executives from Salesforce and its subsidiaries announced plans to leave, Ashley Stewart, chief tech correspondent, writes. Company insiders attribute these departures to co-CEO Marc Benioff exerting increasing control over the company, adding that he's driven away his closest lieutenants while dialing up performance pressure on employees. The departures have created a crisis in leadership at Salesforce.

☆ Elon Musk is bringing in new faces for Twitter 2.0 — including his cousins and Bari Weiss
▼ + stars: | 2022-12-08 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

The makeup of Elon Musk's Twitter is changing, and not just because the offices are now bedrooms. With the majority of the company's former staff having been laid off — or fired, or resigned — Musk has brought in some of his own picks to work at Twitter 2.0. There's more on the new faces at Musk's social media company below, so let's get to it. Elon Musk is bringing in new faces for Twitter 2.0. And these aren't the only new faces at Twitter — hundreds of people have applied for a chance to work at Musk's new company.

☆ 'People come and people go,' says a defiant Benioff. And we're sticking with the Salesforce CEO despite the smoke
▼ + stars: | 2022-12-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

In a CNBC interview Thursday, Jim Cramer pressed Salesforce co-founder and veteran leader Marc Benioff on the recently announced departure of his co-CEO , Bret Taylor. Taylor will step down as his co-CEO at the end of January , at which point Benioff will resume his prior role as sole chief executive. For his part, Jim said he was satisfied with Benioff's responses, while reiterating the Club's continued backing of the stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Salesforce cofounder and co-CEO Marc Benioff speaks during the grand opening of the Salesforce Tower, the tallest building in San Francisco, Calif., Tuesday, May 22, 2018.

☆ Baird downgrades Salesforce, says leadership changes and companies cutting jobs will hurt the stock
▼ + stars: | 2022-12-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Salesforce could struggle with new leadership in a macro environment that's more difficult to traverse, according to Baird. Analyst Rob Oliver downgraded the stock to neutral from outperform and slashed his target to $150 from $200. "We believe the combination of macro headwinds and seat-based software pressure (driven by recent workforce cuts/hiring slowdown) could pressure revenue growth near term," Oliver said in a note to clients. Salesforce also stands to gain from increased interest in cloud marketing, he said, through acquisitions of Radian6, BuddyMedia and DemandWare. Increased competition through public cloud companies are emerging vendors in more specialized offerings could also hurt the stock.

☆ Jim Cramer's Investing Club meeting Thursday: Buy Disney, Salesforce downgrade, Costco earnings
▼ + stars: | 2022-12-08 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Disney buying opportunity Shares of Club holding Walt Disney (DIS) saw an uptick following the return of CEO Bob Iger to the top job last month, climbing to around $99 a share at the start of December. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Salesforce has a succession crisis. Cofounder Marc Benioff is taking increasing control over the company — alienating his top lieutenants and dialing up pressure on employees.
▼ + stars: | 2022-12-07 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

Salesforce insiders attribute these departures to Marc Benioff's response to recent economic headwinds. Last week, Salesforce revealed heir apparent Bret Taylor's plans to leave the company — exactly one year after taking over as co-CEO alongside Benioff. Lately, employees said, Benioff has turned those meetings into a tribunal for his sales executives. While the pandemic was a boon for the company, Salesforce has since trimmed its annual revenue projections to roughly $30 billion down from the roughly $31 billion in May. Salesforce's co-CEO model has failedAs Benioff puts pressure on sales executives, people close to him said he's exerting increasing control over C-Suite executives.

☆ Following Bret Taylor's departure, more top executives are leaving Salesforce
▼ + stars: | 2022-12-06 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Quick question: Have you gone "goblin mode" yet this year? I've got more on goblin mode below, but first, let's talk about Salesforce, which is seeing more executive departures this week. The news of Butterfield's departure comes just days after Salesforce announced co-CEO Bret Taylor is also leaving the company — though Butterfield told staff the moves were unrelated. Oxford Languages, the publisher of Oxford English Dictionary, named "goblin mode" the 2022 Word of the Year — beating out semifinalist "metaverse." A look at what "goblin mode" means.

☆ Salesforce is losing the key execs behind some of its biggest and most expensive bets at a critical moment
▼ + stars: | 2022-12-06 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Slack CEO Stewart Butterfield is also departing, along with some other product-focused execs. The departing execs championed Salesforce's product strategyThe departures of Taylor, Butterfield, and Nelson come as Salesforce's strategy comes under the microscope on Wall Street. With Slack and Tableau, Salesforce already had a lot to prove. Salesforce has already said that Lidiane Jones, an executive VP, will take over for Butterfield as Slack CEO. What it does mean, however, is that Salesforce, Slack, and Tableau are all losing the biggest champions of the integrated product strategy right as the company faces hard questions.

☆ Slack CEO Stewart Butterfield to Depart Salesforce
▼ + stars: | 2022-12-05 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Salesforce Inc. said Stewart Butterfield , the chief executive and co-founder of the messaging app Slack Technologies, plans to leave the company next month. The news of Mr. Butterfield’s departure comes after Salesforce said last week that co-CEO Bret Taylor would depart the company in January, leaving Chairman Marc Benioff the sole CEO of the company he co-founded. Mr. Taylor was credited as the architect of Salesforce’s 2020 deal to buy Slack for $27.7 billion, Salesforce’s biggest acquisition ever.

☆ Slack CEO Stewart Butterfield to Depart
▼ + stars: | 2022-12-05 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

On Monday, the company announced the departure of Slack CEO Stewart Butterfield, who joined Salesforce last year as part of its biggest acquisition ever. Taylor, who joined Salesforce in 2016 through the acquisition of his startup Quip, said he'd "decided to return to my entrepreneurial roots." While Taylor and Butterfield are the highest-profile exits, they're far from alone among Salesforce's executive ranks. Noah Weiss, senior vice president of product at Slack, will succeed Yehoshua, Butterfield said in a Slack message. Butterfield is being succeeded by Lidiane Jones, an executive vice president at Salesforce who joined in 2019.

☆ Read the memo Slack CEO Stewart Butterfield wrote to staff announcing his departure from Salesforce
▼ + stars: | 2022-12-05 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Slack CEO Stewart Butterfield announced Monday that he's leaving Salesforce, Slack's corporate owner. The news comes days after Salesforce announced its CEO Bret Taylor is also stepping down. Slack CEO Stewart Butterfield announced Monday morning that he is leaving Salesforce in January, according to an announcement Butterfield posted to a company Slack channel that was viewed by Insider. Slack will have a new CEO: Lidiane Jones. He's going to keep the bar high, and then keep pushing it higher.

☆ Slack CEO Stewart Butterfield is leaving Salesforce two years after deal was announced
▼ + stars: | 2022-12-05 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Salesforce said on Monday that Slack founder and CEO Stewart Butterfield is leaving the company. "Stewart is an incredible leader who created an amazing, beloved company in Slack," a company spokesperson told CNBC in a statement. "He has helped lead the successful integration of Slack into Salesforce and today Slack is woven into the Salesforce Customer 360 platform. Noah Weiss, senior vice president of product at Slack, will replace Yehoshua, Butterfield said in a Slack message to all Salesforce employees that CNBC viewed. Months later, Taylor told Butterfield that while Salesforce wasn't interested in selling Quip to Slack, Salesforce was interested in buying Slack.

☆ Meet incoming Slack CEO Lidiane Jones, who will take over when co-founder Stewart Butterfield departs in January
▼ + stars: | 2022-12-05 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +4 min

Lidiane Jones is taking over Stewart Butterfield's role as CEO of Slack. Slack CEO Stewart Butterfield is exiting the company in January, and Salesforce has confirmed that Lidiane Jones will be his successor. "Slack will have a new CEO: Lidiane Jones. This is good: Lidiane is amazing," Butterfield wrote in the post, which was viewed and published in full by Insider. A spokesperson for Salesforce wrote in a statement to Insider that Butterfield was "instrumental" in choosing Jones as his successor.

☆ Salesforce drops 6% after Slack CEO Stewart Butterfield becomes 3rd high-profile management departure in less than a week
▼ + stars: | 2022-12-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Salesforce fell 6% on Monday after Insider reported that executive Steward Butterfield is departing the company. Butterfield's exit from Slack marks the third high-profile executive departure in less than a week. Butterfield is the co-founder and current CEO of the popular workplace messaging platform Slack, which Salesforce acquired for about $28 billion in 2021. The imminent departure of Butterfield is concerning to Salesforce investors because it marks the third high-profile executive departure in less than a week. Butterfield said in an internal Slack message viewed by Insider that his departure has nothing to do with the departure of Bret.

☆ Slack CEO Butterfield to depart next month
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

Dec 5 (Reuters) - Slack Chief Executive Officer Stewart Butterfield plans to leave the workplace messaging platform in January, parent company Salesforce Inc (CRM.N) said on Monday. Lidiane Jones, who is the senior vice-president of product management for Salesforce Commerce Cloud, will take over as CEO of Slack, a company spokesperson said. Salesforce had acquired Slack last year in a nearly $28 billion deal following a massive bet that Slack's workplace app will become popular for collaborations within and between companies. Last week, Salesforce stock tumbled after co-CEO Bret Taylor's sudden exit caught Wall Street off guard and raised concerns about the merit in having two leaders. read moreReporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Slack CEO Stewart Butterfield to exit Salesforce in January. 'This has nothing to do with Bret's departure.'
▼ + stars: | 2022-12-05 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +1 min

Slack CEO and co-founder Stewart Butterfield is leaving Salesforce in January. The news comes just days after Salesforce announced CEO Bret Taylor is also leaving the company. Slack CEO Stewart Butterfield is leaving Salesforce in January. Butterfield posted his announcement, viewed by Insider, to an internal Slack channel at Salesforce on Monday morning. Butterfield is a co-founder of Slack, which Salesforce acquired for nearly $28 billion in 2021.

☆ Big Tech workers who've been laid off finally get a vacation
▼ + stars: | 2022-12-02 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

For some laid-off tech workers, that thought isn't confined to just daydreams — some employees told us that since they've been laid off, they've taken the opportunity to finally go on vacation. In Big Tech, getting laid off can mean taking a fancy vacation. While the typical US worker receives little to no severance pay when they get laid off, firms like Facebook, Snap, and Twitter have been relatively generous. Some laid-off tech workers have racked up few years of sky-high pay, frequent bonuses, generous stock awards, and now, decent severance — so some are thinking, "why not travel?" See where other "freed" tech workers are headed.

☆ Leaked message from Slack CEO Stewart Butterfield describes shock over Bret Taylor's sudden departure from Salesforce
▼ + stars: | 2022-12-01 | by ( Ellen Thomas | Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Salesforce co-CEO and heir apparent Bret Taylor is leaving the company. The news came as a shock to many within the company, including Slack CEO Stewart Butterfield. Read Stewart Butterfield's internal Slack message about Taylor's exit. Salesforce co-CEO Bret Taylor is leaving the company a mere year after he took the top role alongside cofounder Marc Benioff. But Slack is still Slack and we still have the same customers and technology and revenue and, more than anything, people (you!).

☆ 911 dispatchers say skiers are accidentally setting off Apple's new crash-detection technology without realizing, triggering emergency calls
▼ + stars: | 2022-12-01 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Emergency dispatchers in a Utah county told local news that they're seeing more accidental 911 calls from skiers. Dispatchers told KSL.com the calls are from Apple devices with a new crash-detection feature. Apple's crash-detection technology sends users a message with an alarm sound if it detects a crash. Even with accidental triggering of the technology, the report highlights that dispatchers still view the crash-detection technology as a positive, and recommend people keep it turned on. The crash-detection feature has also set off accidental 911 calls for users who were riding roller coasters, The Wall Street Journal reported in October.

Even though more than half the money ever invested in bitcoin would now be underwater if it had stayed, crypto monitors insist it's somehow still attracting punters. Cryptocurrency and bitcoin investors seem to be showing few signs of dumping their crypto-related assets, stocks and exchange-traded funds (ETFs), despite the latest wave of turmoil and scandal to crash over the sector. Analysts at JP Morgan estimate that around $25 billion has flowed out of the crypto since May. He estimates that the stablecoin market cap peaked at around $170 billion earlier this year and has declined by around $25 billion since May. That is, $25 billion of redemptions flowing out of crypto, most likely to fiat currency, perhaps cash or cash-like products.

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