Salesforce cuts staff amid acquisition spree and $50 billion share buyback

Salesforce is laying off 86 employees in San Francisco as part of its second round of job cuts this year, while announcing the acquisition of m3ter and Contentful in a 13-month acquisition spree. The company is also repurchasing $50 billion of its own stock amid a 30% decline in share value, with CEO Marc Benioff highlighting strong cash reserves and record revenue in recent earnings.