Salesforce Inc (CRM)

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Salesforce CEO Marc Benioff Pledges No Layoffs for Three Months
By: TheStreet | March 26, 2020

• Salesforce CEO Marc Benioff pledges not to implement any layoffs over the next 90 days as other companies lay off millions of workers amid the coronavirus pandemic.

Salesforce (CRM) CEO Marc Benioff has pledged that the cloud software giant won't impose any significant layoffs over the next 90 days as companies lay off millions of workers amid the coronavirus pandemic and unprecedented economic disruption.

“Salesforce is pledging to its workforce Ohana not to conduct any significant lay offs over the next 90 days,” Benioff wrote in a tweet on Wednesday.

“We encourage our Ohana to pay their own personal hourly workers like housekeepers & dog walkers,” Benioff added, using the Hawaiian word for "family" that is a central element of Salesforce’s workplace culture.

Benioff’s promise also applies to non-salaried employees; hourly workers around the world will also continue to receive pay, even as Salesforce's facilities both in the U.S. and abroad remain mostly closed.

The commitment comes as corporations across the country institute layoffs and furloughs of millions of workers amid what has become a nationwide shutdown of almost all economic activity - moves that will be backed by numbers when the government announces weekly jobless claims at 8:30 a.m. ET.

Salesforce had more than 49,000 employees as of Jan. 31.

Last week the U.S. reported the highest week-over-week percentage increase in unemployment in history, triggered by decreases in travel and local business lockdowns to slow the spread of Covid-19.

Salesforce already has donated $1 million to UCSF’s Covid-19 Respond Fund and $500 thousand to the CDC Foundation’s Emergency Response Fund, while matching employee donations to other aid organizations, Benioff previously announced.

Shares of Salesforce were down 0.14% at $146.86 in premarket trading on Thursday.

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