For the 3 months ending in January 31 2023 page 6 has $5.927 billion in operating expenses. Subtract out the $0.828 billion in restructuring costs for $5.099 billion in above the line expenses. For about 80,000 employees this means about $255,000 in expenses per employee.
I've never read a 10k before so I hope I'm doing it right.
Assuming all of those expenses go away with the employee (which will obviously not be the case), laying off 8,000 employees would save an average of about $2 billion per year.
This is the big takeaway from the 10k filing, and I wonder if it changed in the last two months: "Announces Share Repurchase Program increased to $20 billion".
But that's all expenses, not just direct employee costs. Like Salesforce buys an ad in the Superbowl, or spends money on Google ads, or buys electricity for its datacenters, etc.
I looked up their most recent 10k filing: https://s23.q4cdn.com/574569502/files/doc_financials/2023/q4...
From: https://investor.salesforce.com/financials/default.aspx
For the 3 months ending in January 31 2023 page 6 has $5.927 billion in operating expenses. Subtract out the $0.828 billion in restructuring costs for $5.099 billion in above the line expenses. For about 80,000 employees this means about $255,000 in expenses per employee.
I've never read a 10k before so I hope I'm doing it right.
Assuming all of those expenses go away with the employee (which will obviously not be the case), laying off 8,000 employees would save an average of about $2 billion per year.
This is the big takeaway from the 10k filing, and I wonder if it changed in the last two months: "Announces Share Repurchase Program increased to $20 billion".