Activist Investor Elliott Takes Big Stake In Salesforce : Report

(RTTNews) - Activist investor Elliott Management Corp. has made a multibillion-dollar investment in Salesforce Inc. (CRM), the Wall Street Journal reported citing people familiar with the matter.

Details of the campaign couldn't be learned, the report said. Elliott often seeks board representation and pushes for companies to make operational improvements and other changes.

Earlier this month, the Cloud-based software company Salesforce announced a restructuring plan, including job cuts, to reduce operating costs and improve operating margins.

The company estimated that it would incur around $1.4 billion to $2.1 billion in charges in connection with the Plan.

As per the plan, the company would reduce its current workforce by around 10 percent and select real estate exits and office space reductions within certain markets.