Salesforce Cuts Jobs Following Own Acquisition

Salesforce has completed its $2 billion acquisition of data management startup Own, but plans to lay off approximately 700 employees as part of the integration process. The layoffs will affect roles deemed unnecessary after 'harmonization,' with some cuts effective by January 31, 2025, while others will occur over a transitional period of up to a year. This move reflects Salesforce's shift towards a more stringent approach to acquisitions following criticisms from activist investors about previous rapid expansions that increased expenses and complexity. Own, which specializes in data security and management, will now become a key component of Salesforce's Data Cloud services. The company also announced plans to hire over 1,000 employees to support its new generative AI product, indicating a strategic pivot in its workforce management. This acquisition marks Salesforce's largest since its purchase of Slack.