Splunk to lay off nearly 7% of its workforce amid economic woes (updated)

Splunk

01/11/2023 13:05

(Recasts first paragraph, adds CEO quote in paragraph 3,
background on Cisco deal in paragraph 4)
       Nov 1 (Reuters) - Splunk  SPLK.O  said on Wednesday it
would lay off nearly 7% of its global workforce as the
cybersecurity and cloud software company grapples with an
uncertain macroeconomic environment.
    Splunk had 8,000 employees as of Jan. 31, of which nearly
560 are set to be impacted by the layoffs.
    "The overall market has retracted and we expect the macro
environment will continue to be unpredictable for the
foreseeable future," said CEO Gary Steele in an email sent to
employees, about a month ahead of its quarterly results.
    The reorganization is unrelated to the deal Cisco Systems
 CSCO.O  made in September to acquire Splunk for about $28
billion, Steele added.


 (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shilpi
Majumdar)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))