Salesforce Inc. will cut its workforce by 10% and exit some of its office space, according to a filing with the Securities and Exchange Commission on Wednesday, though it didn’t specify where or how much space it would give up.
As of the fourth quarter of 2022, the company’s “non-cancelable minimum payments” for its office, data center and other space was about $4.4B, according to Salesforce, with payments of about $800M due during the next 12 months.
The company’s lease at the 875K SF, Boston Properties-owned Salesforce Tower in San Francisco runs through 2031. Salesforce put 350K SF up for sublease in its Salesforce West location in San Francisco last year.
Source: Salesforce To Exit Office Space, Slash Workforce 10%
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