Splunk to Lay Off 7% of Workforce
01 Novembre 2023 - 2:45PM
Dow Jones News
By Rob Curran
Cybersecurity company Splunk, which recently agreed to a buyout
from network giant Cisco Systems, unveiled a plan to lay off about
7% of its employees, mostly in the U.S.
Splunk said it would book roughly $42 million in charges on
severance payments and other issues related to the layoffs.
In a letter addressed to "All Splunkers," President and Chief
Executive Gary Steele outlined the reasoning for the layoffs.
"As we work to finish [fiscal 2024] 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," said Steele, in the letter.
"The changes we are announcing 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," Steele wrote.
For the quarter ended in April, Splunk took a $29.1 million
charge related to a previous 4% reduction of its workforce.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
November 01, 2023 09:30 ET (13:30 GMT)
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