Splunk to Cut 7% of Staff After Cisco Acquisition Announcement
- Layoffs are due to economic environment, CEO says in memo
- Roughly 560 employees will be cut based on January staffing
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Splunk Inc. is cutting about 7% of its global workforce, citing an uncertain economic environment ahead of a planned acquisition by Cisco Systems Inc.
“The overall market has retracted and we expect the macro environment will continue to be unpredictable for the foreseeable future,” Chief Executive Officer Gary Steele wrote in a message to employees Wednesday.