Salesforce CEO calls coming job cuts ‘part of running business in a successful way’

Salesforce (CRM), coming off a massive second quarter and poised to be added to the Dow Jones Industrial Average, is like all other businesses operating in a pandemic — having to make “difficult decisions” like cutting headcount, CEO Mark Benioff told Yahoo Finance.

The billionaire explained that job cuts, especially during a pandemic, is part of running a successful business. According to The Wall Street Journal, Salesforce is eliminating around 1,000 jobs, with the impacted workers given 60 days to find new positions within the company.

The move comes at a time when joblessness is at its highest levels in years. Yet with 54,000 employees, the job cuts account for less than 2% of the total headcount. Typically, Salesforce looks at “rebalancing five to 10%” of its employees each year, Benioff explained on Wednesday.

“It’s part of running our business in a successful way. And that

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Kansas City Fed President Esther George speaks with Yahoo Finance [Transcript]

joined Yahoo Finance on the virtual sidelines of the annual Jackson Hole symposium to discuss the impact of the COVID-19 pandemic on the U.S. economy and how the Federal Reserve is responding.” data-reactid=”16″Esther George, president of the Kansas City Fed, joined Yahoo Finance on the virtual sidelines of the annual Jackson Hole symposium to discuss the impact of the COVID-19 pandemic on the U.S. economy and how the Federal Reserve is responding.

Below is a transcript of her appearance, taped on August 25 and aired on August 26.

BRIAN CHEUNG: Welcome to “Yahoo Finance Presents.” I’m Brian Cheung, joined here by a very special guest: Kansas City Fed president Esther George. President George, thanks so much for joining us today.

ESTHER GEORGE: Thank you, Brian. Good to see you.

BRIAN CHEUNG: So I want to kick things off with just a discussion of where things are where you are … Read More

Signs of recovery? U.S. business activity and home sales surge

By Dan Burns

(Reuters) – In signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and purchasing managers in both the manufacturing and services sectors report business activity has accelerated at a brisker-than-expected pace this month.

With mortgage rates holding near record lows and a work-from-home trend apparently enticing many Americans to move further from city centers, the National Association of Realtors said on Friday sales of existing homes rose 24.7% to a seasonally adjusted annual rate of 5.86 million units last month from 4.7 million in June.

Home prices also shot to a record $304,100, and a shortage of inventory is making competition for houses fierce. The average time on the market fell to 22 days in July, a record low, from 24 in June, and nearly 70% sold in less than a month.

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WRAPUP 1-Signs of recovery? U.S. business activity and home sales surge

By Dan Burns

Aug 21 (Reuters) – In signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and purchasing managers in both the manufacturing and services sectors report business activity has accelerated at a brisker-than-expected pace this month.

With mortgage rates holding near record lows and a work-from-home trend apparently enticing many Americans to move further from city centers, the National Association of Realtors said on Friday sales of existing homes rose 24.7% to a seasonally adjusted annual rate of 5.86 million units last month from 4.7 million in June.

Home prices also shot to a record $304,100, and a shortage of inventory is making competition for houses fierce. The average time on the market fell to 22 days in July, a record low, from 24 in June, and nearly 70% sold in less than

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