{"id":54399,"date":"2023-11-01T18:54:00","date_gmt":"2023-11-01T18:54:00","guid":{"rendered":"https:\/\/www.networkworld.com\/article\/3709848\/splunk-cuts-7-of-workforce-ahead-of-cisco-acquisition.html#tk.rss_security"},"modified":"2023-11-01T18:54:00","modified_gmt":"2023-11-01T18:54:00","slug":"splunk-cuts-7-of-workforce-ahead-of-cisco-acquisition","status":"publish","type":"post","link":"https:\/\/www.threatshub.org\/blog\/splunk-cuts-7-of-workforce-ahead-of-cisco-acquisition\/","title":{"rendered":"Splunk cuts 7% of workforce ahead of Cisco acquisition"},"content":{"rendered":"
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Network management and visualization vendor Splunk, which is set to be acquired by Cisco in a $28 billion deal<\/a>, will cut about 560 jobs in a global restructuring, the company announced Wednesday in an SEC filing.<\/p>\n

Splunk president and CEO Gary Steele said in the filing that employees in the Americas set to lose their jobs will be notified throughout today, and that the company plans to offer severance packages to laid-off employees, as well as healthcare coverage and job placement assistance for an undisclosed length of time.<\/p>\n

The announcement comes after Splunk announced a first wave of 325 job cuts<\/a> in February.<\/p>\n

\u201cThe overall market has retracted and we expect the macro environment will continue to be unpredictable for the foreseeable future,\u201d Steele\u2019s message to employees said.<\/p>\n

The cuts amount to 7% of Splunk\u2019s global workforce, according to Steele\u2019s filing, and are unrelated to the company\u2019s pending acquisition by networking giant Cisco, which was initially announced in September of this year. (Splunk employed roughly 8,000 people globally as of early 2023, according to Macrotrends, which represents an increase of more than 14% from its 2022 totals.)<\/p>\n

\u201cThe changes we are announcing are not a result of our agreement with Cisco; they are the continuation of the important initiatives we\u2019ve undertaken across Splunk for more than a year to align our resources and operating structure to deliver ongoing and incremental value for our customers,\u201d Steele said.<\/p>\n