Feared activist investor Elliott Management now has a multibillion-dollar position in Salesforce.
This is the company's second activist investor after Starboard Value disclosed a significant stake in October.Elliott Management — the world's most feared activist investor — now has a multibillion-dollar position in Salesforce, according to a person with direct knowledge of the matter, and some employees worry Elliott's attention could lead to further layoffs.when its government failed to pay a bond, confirmed its investment in Salesforce and suggested plans to push for changes.
"Salesforce is one of the preeminent software companies in the world, and having followed the company for nearly two decades, we have developed a deep respect for Marc Benioff and what he has built," Elliott Managing Partner Jesse Cohn said in a statement to Insider."We look forward to working constructively with Salesforce to realize the value befitting a company of its stature.
The latter part of that statement could be a tongue-and-cheek reference to Salesforce Tower, the skyscraper that has dominated San Francisco's skyline,
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Salesforce employees fear deeper cuts after Elliott investmentSalesforce employees fear deeper cuts now that a second activist investor has a stake. Elliott, the world's most feared hedge fund, has confirmed it wants changes. Yup, they are stripping out the assets and going to load it with debt. Then Salesforce will go bankrupt.
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