Salesforce (CRM) - Get salesforce.com, inc. Report headquarters literally towers over the city of San Francisco, where Marc Benioff, chairman and CEO of the company grew up and from which he says the company’s success and values grew.
Benioff recently spoke to Jim Cramer on "Mad Money" from the company's annual Dreamforce user conference, which was in person for the first time since 2019. The networking event was downsized this year from 150,000+ attendance of past years to 1,000 in-person attendees, due to pandemic limits. A similar-sized crowd from past years attended online. Salesforce is a leader in customer relationship management software.
Benioff talked extensively with Cramer about the issue of corporate responsibility. Benioff said that at this year's conference, he was delighted to see more companies making trust and safety, along with equality and diversity, top priorities. He was sharply critical of companies like Facebook (FB) - Get Facebook, Inc. Class A Report which he said allows the spread of massive amounts of misinformation. He cited a series of Wall Street Journal articles earlier this month about the company's exemption of prominent VIPs from its content rules and its failure to act despite knowing its Instagram app is harmful for many users, most notably teenage girls. "It's just unacceptable to see this kind of behavior in such a large and important company." Benioff said. Get more trading strategies and investing insights from Cramer and his Action Alerts PLUS team.
Benioff also responded to criticism that platforms like Salesforce allow companies to downsize their workforce. He said that by focusing on their customers, companies tend to add employees to their workforce, not lay them off.
Earlier, Salesforce told employees that if they are concerned about the ability to access reproductive care in the wake of the new anti-abortion law in Texas, the company will help them relocate.