Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

Splunk Announces 7% Workforce Cut

November 2, 2023
Reading Time: 9 mins read
in News

Splunk, a San Francisco-based cybersecurity and observability vendor, has initiated a second round of layoffs, affecting 7% of its workforce, following Cisco’s announcement of a $28 billion acquisition.

Approximately 560 positions are set to be cut, with a focus on the United States, where the majority of Splunk’s employees are based. This decision comes nine months after Splunk’s first round of layoffs, which affected approximately 325 staff, primarily in North America. The layoffs are attributed to the challenging macroeconomic environment, and Splunk anticipates investing $37 million in severance payments and $5 million in share-based compensation expenses to complete the reorganization by April 30, 2024.

CEO Gary Steele emphasized that these layoffs are unrelated to Cisco’s acquisition but are part of a broader effort to realign resources and operating structure in response to market uncertainties. Employees affected or potentially affected by the layoffs in the U.S. and the Americas will receive notifications, while those in other countries might experience longer notification timelines due to local employment practices.

Splunk plans to provide severance packages, healthcare coverage, and job placement resources for the laid-off workers. The company’s CEO, Gary Steele, is set to join Cisco’s executive leadership team following the acquisition’s completion, highlighting the significance of cybersecurity in Splunk’s business.

Splunk, known for its security information and event management platform, has evolved its services beyond traditional SIEM to include security orchestration, automation and response, user behavior analytics, security monitoring, incident management, threat hunting, insider threat detection, and compliance.

Despite the layoffs, Splunk reported an increase in sales in the six months ending July 31, with $1.66 billion in revenue, a 12.8% growth compared to the previous year. Additionally, the company’s net loss during the same period showed improvement, with a 49.5% decrease to $259.7 million. The layoffs at Splunk come amidst a wave of layoffs among cybersecurity vendors in response to worsening economic conditions since May 2022, affecting nearly 100 companies, including Silicon Valley-based Exabeam and F-Secure.

Reference:
  • Message to Employees – Splunk
Tags: Cyber NewsCyber News 2023Cyber ProfessionalsCybersecurityNovember 2023SplunkUSA
ADVERTISEMENT

Related Posts

Kirsten Davies Nominated as Pentagon CIO

Kirsten Davies Nominated as Pentagon CIO

May 8, 2025
China’s Cyber Power Raises UK Concerns

China’s Cyber Power Raises UK Concerns

May 8, 2025
Europol Takes Down Global DDoS Services

Europol Takes Down Global DDoS Services

May 8, 2025
Nomad Thief Arrested for Role in Crypto Hack

NATO Hosts Locked Shields 2025 Cyber Defense

May 7, 2025
Nomad Thief Arrested for Role in Crypto Hack

NSO Group to Pay $167 Million to WhatsApp

May 7, 2025
Nomad Thief Arrested for Role in Crypto Hack

Nomad Thief Arrested for Role in Crypto Hack

May 7, 2025

Latest Alerts

CoGUI Targets Consumer and Finance Brands

COLDRIVER Hackers Target Sensitive Data

Cisco Fixes Flaw in IOS Wireless Controller

New OttoKit Flaw Targets WordPress Sites

Mirai Botnet Exploits Vulnerabilities in IoT

Critical Kibana Flaws Allows Code Execution

Subscribe to our newsletter

    Latest Incidents

    Masimo Cyberattack Disrupts Manufacturing

    Cyberattack Targets Tepotzotlán Facebook

    West Lothian Schools Hit by Ransomware

    UK Legal Aid Agency Faces Cyber Incident

    South African Airways Hit by Cyberattack

    Coweta County School System Cyberattack

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial