In many cases, layoffs announced at publicly traded companies tend to lift the underlying securities. Essentially, such negative actions communicate to shareholders that the impacted companies are serious about righting the ship. So, it’s not surprising that Salesforce (NYSE:CRM) benefitted from a recently announced headcount reduction. Still, making the upside stick for the long haul represents an entirely different story. I am skeptically neutral on CRM stock. Last week, the cloud-computing solutions firm announced that it cut hundreds of workers from its sales team. According to Bloomberg, the headcount reduction initiative centered on Salesforce’s efforts to improve profitability amid a challenging environment.
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Salesforce (NYSE:CRM)
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