Splunk to cut 7% of staff
Months ahead of its acquisition by global networking giant Cisco
San Francisco: US-based cybersecurity company Splunk has announced to lay off about 7 per cent of its global workforce, just months ahead of its acquisition by global networking giant Cisco.
According to Splunk's regulatory filings, it had nearly 8,000 employees as of January, meaning around 500 employees will likely lose their jobs.
The company laid off nearly 300 employees earlier this year.
"As we work to finish FY24 and look ahead, we are taking this proactive and strategic step that further aligns our workforce to better enable Splunkers to meet the needs of our customers and partners, while remaining sustainable and cost-effective," Splunk CEO Gary Steele said in a letter to employees filed with the US Securities and Exchange Commission (SEC).
He also mentioned that the layoffs "are not a result of our agreement with Cisco; they are the continuation of the important initiatives we’ve undertaken across Splunk for more than a year to align our resources and operating structure to deliver ongoing and incremental value for our customers".