“While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do,” Schulman said in the email. “These reductions will occur over the coming weeks, with some organizations impacted more than others,” he wrote. Chief Executive Dan Schulman announced the layoffs in an email to employees. Said it was cutting its global workforce by approximately 2,000 full-time employees, or 7% of the company’s total workforce. Splunk expected the plan to be completed, and to book “substantially all” the associated charges and cash expenditures, in the first quarter of fiscal year 2024. In an SEC filing, Splunk estimated that it would incur approximately $28 million in charges and future cash expenditures related to its reorganization plan. “This decision is another step in a broader set of proactive organizational and strategic changes that include optimizing our processes, cost structure and how we operate globally to ensure Splunk continues to balance growth with profitability through these uncertain times and drive success over the long term,” he wrote.Īlso read: Splunk to lay off 4% of its staff in latest sign of software cutbacks In a letter to employees, Splunk CEO Gary Steele said that the cuts will be mostly in North America. Said it will lay off about 4% of its staff, or about 325 employees, amid cutbacks in the software industry. In a filing with the Securities and Exchange Commission, Okta said it will incur approximately $15 million in restructuring charges in the fourth quarter of fiscal 2023 for future cash employee severance and benefits costs, which primarily will be paid in the first quarter of fiscal 2024. “I wish I had responded sooner, but we’re doing the best we can today to adjust to this reality,” he said. McKinnon also highlighted “execution challenges” that Okta has faced. Now read: Okta CEO says layoffs were ‘the last thing I wanted to do’ as company cuts 300 jobs “This led us to overhire for the macroeconomic reality we’re in today.” “We entered fiscal 2023 with a growth plan based on the demand we experienced in the prior year,” the CEO said. “A workforce reduction like this is the last thing I wanted to do, and I am truly sorry,” Okta CEO Todd McKinnon wrote in an email to employees. Said it will cut its global workforce by 5%, or approximately 300 employees, as the software maker adjusts to the current macroeconomic reality. There is no tougher decision, but one we had to make for our long-term health and success.” He added: “Unfortunately, with changes like this, some members of our team will be leaving the company. We now have to make additional decisions to prepare for the road ahead.” “The steps we’ve taken to stay ahead of downturn impacts - which enabled several strong quarters in a row - are no longer enough. “What we know is market conditions continue to erode with an uncertain future,” he said in the message. In a message to employees that was also filed with the SEC, Jeff Clarke, Dell’s vice chair and co-chief operating officer, described a series of changes the company is making around global sales and services, which he said will make the company more nimble and provide a “better structure” for the future. If the company’s staffing has remained at that level, the layoffs would affect 6,650 employees.Īlso read: Dell to cut staff by 5% as ‘conditions continue to erode’ 28, 2022, according to its last 10-K filing. The tech giant had 133,000 employees as of Jan. The company announced the layoffs in a filing with the Securities and Exchange Commission, citing “a challenging global economic environment.” Has joined the list of tech giants making job cuts, with the company announcing plans to cut approximately 5% of its workforce. Here’s a look at the list of big names across a number of sectors that have been cutting back their workforces.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |