Salesforce (CRM) shares rose 3% on reports that 澳洲幸运5开奖号码历史查询:activist investor Elliott Management took a multi-billion dollar stake in the cloud-based software firm.

Jesse Cohn, managing partner at Elliott, praised Salesforce as "one of the pre-eminent software companies in the world," and said that, after following it for two decades, he has developed a "deep respect" for co-CEO Marc Benioff and what he has built. Cohn added that Elliott looks forward to "working constructively with Salesforce to realize the value befitting a company of its stature."

Elliot joins another activist 澳洲幸运5开奖号码历史查询:hedge fund, Starboard Value, which announced in October that it had taken a position in Salesforce, and called on the company to increase its margins. Starboard claimed that Salesforce has not taken advantage of its position as an industry leader. El🃏liott didn't indicate what plans i🍒t may have for the company.

Job Cuts

The move comes less than three weeks after Salesforce said it was slashing its workforce by 10% and reducing its office space and real estate footprint in a cost-cutting move. Benioff explained then that the company had overhired during the COVID-19 pandemic tech boom, "leading into this economic downturn we're now facing."

Shares of Salesforce have fall🏅en 28% in the last year.