Splunk to cut 7% of workforce, or about 500 employees, ahead of Cisco acquisition

Splunk will lay off 7% of its global workforce, CEO Gary Steele said in a message to employees, months ahead of the close of its planned acquisition by Cisco.The Splunk-Cisco deal is Cisco's largest ever, with the acquisition of the cybersecurity firm valued at around $28 billion, or 13% of Cisco's pre-announcement market cap.filing with the SEC

, and will receive unspecified severance and healthcare packages."Within the next 24 hours, each ELT member will communicate with their organization to summarize any changes to their teams," Steele wrote.in an all-cash deal valued at $28 billion. The companies said the deal was expected to close by the third quarter of 2024.Shortly after the announcement, Steele and Cisco CEO Chuck Robbins discussed the deal on a call with analysts.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bear Squeeze Remains in the Offing as Stocks ReboundStocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Bear Squeeze Remains in the Offing as Stocks BounceStocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

The Bears May Get What They Want: A Market CrashStocks Analysis by Avi Gilburt covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Avi Gilburt's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »