The company's non-GAAP operating margin for the fiscal year was reported at 30.5%, surpassing the 30% target set by activist investors. CFO Amy Weaver stated that new hires are being sourced from areas with high talent pools and low living costs. This strategy mirrors that of Oracle, which has been reported to avoid hiring in cities with high salaries.
Key takeaways:
- Salesforce's headcount increased to 72,682 workers in the fourth quarter of fiscal 2024, up from 70,843 at the end of the prior quarter.
- The company laid off 10% of its workforce, nearly 8,000 employees, in 2023 as part of a restructuring effort to increase profit margins.
- CEO Marc Benioff plans to hire 3,000 people, focusing on generative artificial intelligence, and encourages former employees to return.
- New hires are being added in "cost-effective ways," such as hiring from areas with high talent pools and low cost of living, a strategy similar to Oracle's.