Salesforce Writes Off $25 Million Vacating Offices in Wake of COVID-19

Elvera Bartels

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CRM giant also inks important offer with AT&T

Salesforce states cancelling bodily events this fiscal calendar year in favor of “virtual experiences” value it $65 million, with the firm also chalking up close to $twenty five million in lease impairments “due to vacating and subleasing offices” in the wake of pandemic.

The admission on a Q1 earnings connect with — that noticed the firm normally report a bouyant quarter, with top line revenue ($four.87 billion) up thirty p.c calendar year-on-calendar year — came as corporations globally shake up the commercial real estate current market amid a profound pivot to distant function.

(As McKinsey put it in an April 2020 report: “Behavioral variations that will guide to major space getting to be out of date in a article-coronavirus environment feel imminent…”)

Salesforce Touts “Incredible” AT&T Deal

Among the the quarter’s stand-out wins for Salesforce was a offer with

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