salesforce.com, Inc. (NYSE:CRM) Plans To Create 1,500 jobs New Jobs In Ireland
salesforce.com, Inc. (NYSE:CRM) is reportedly planning to create 1,500 new job positions in Ireland in the next five years or so.
The software giant which is currently based in San Francisco unveiled its plan for the new jobs as part of its Irish expansion plans. Salesforce together with the Irish Prime Minister Leo Varadkar announced the company’s plans for a “Salesforce Tower” which will be built in Dublin. The announcement also comes at a time when Salesforce has been working on broader efforts to maintain its strong growth.
Salesforce to kick its global efforts into high gear starting with Ireland
Salesforce makes most of its revenue in the U.S market. However, the company has been working on international expansion to strengthen its business and make its products more accessible globally. Ireland is one of the company’s most promising locations outside the U.S and thus the company’s increasing efforts in the country.
Salesforce has also been experiencing slow growth in its signature cloud software due to market saturation. The company also pledged in June last year that it will spend roughly $2.5 billion to boost sales in Britain which is its largest European market. The amount will be invested in the next five years and will be used to expand office space, build another data center and also to hire new employees.
Concerns raised over Ireland’s high tax demands from companies
The software giant also revealed that it plans to pump $2.2 billion into its French business in the next five years. The announcement marks excellent news for Ireland because it alleviates concerns that investment would be affected by the latest high-profile tax cases reported by investors. Perrigo Company PLC (NYSE:PRGO) for example was required to pay an Iris tax of 1.6 billion euros ($1.8 billion). This would make it the second largest tax in Ireland’s history.
Meanwhile, Ireland expects tax arrears worth €13 billion from Apple Inc. (NASDAQ:AAPL) Courtesy of EU orders. Salesforce does not seem to be nudged by the high tax cases based on its decision to proceed with its planned investment in Ireland.
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