DataUS

Splunk Layoffs

November 2023

Splunk announced a layoff affecting 500 employees (7% of its workforce) in November 2023. The company operates in the Data sector.

People Affected

500

Percentage

Announced Date

Nov 1, 2023

About

Cybersecurity firm Splunk announced layoffs affecting approximately 7% of its global workforce, which translates to around 500 employees based on its nearly 8,000-strong team as of January. The cuts, disclosed in an SEC filing, are part of a restructuring effort expected to incur about $42 million in costs, with most occurring before April 2024. CEO Gary Steele emphasized that these layoffs are not related to the company's pending $28 billion acquisition by Cisco, which is set to close by the third quarter of 2024. This move follows a previous round of about 300 layoffs earlier in the year, reflecting ongoing adjustments within the tech industry.