Multiple activist investors have taken stakes in Salesforce, according to reports from several outlets. The investments have spurred speculation that the tech firm could soon face additional pressure to increase margins and trim payrolls. 

Elliott Investment Management has bought a multi-billion-dollar position in Salesforce, per the Wall Street Journal, and Inclusive Capital has also taken a stake, per CNBC

"We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," tweeted Jesse Cohn, managing partner at Elliott. 

Activist investors have taken aim at Big Tech before, sometimes with the goal of overhauling operations or replacing well-established leaders. 

Cohn specifically has some experience serving on the boards of tech companies, including eBay, Twitter, and Citrix. 

Salesforce is already trying to streamline its operations after growing too quickly earlier in the pandemic. Earlier this month, the company announced plans to lay off 10 percent of its workforce, or about 700 employees, and reduce its office footprint. 

Since then, several other tech giants have made similar cuts, including Amazon, Microsoft, and Google parent Alphabet. 

Shares of Salesforce were up around 3 percent following the news reports. 

Share:
More In Business
Biden Proposes Canceling Student Loan Interest to Tackle Debt Crisis
The Biden administration has unveiled a plan, Plan B, to address the student loan debt crisis. It offers to cancel up to $20,000 in interest for borrowers enrolled in income-driven repayment plans. This proposal aims to reset balances for those facing growing debt due to unpaid interest, benefiting low—and middle-income borrowers. An estimated 25 million borrowers are eligible for some form of interest forgiveness.
Load More