San Francisco data software company Splunk said in its securities filings that it will furlough 4% of its approximately 325 employees worldwide as technology job cuts continue across cities, countries and the world. I was.
The company’s president and CEO, Gary Steele, said in filings with the U.S. Securities and Exchange Commission that the cuts will primarily affect its workforce in North America.
Steele will provide affected U.S. employees with “access and guidance for retirement benefits, medical benefits, careers and job placement services, March stock acquisitions and 2023 bonus payments, and for pursuing other roles within Splunk.” said it would support affected employees by providing
Employees laid off outside the U.S. will receive similar assistance, the company said, without elaborating. Steele said employees would be notified all day Wednesday if they were fired, but did not specify when the last day would be.
The California Department of Employment Development said in an email that it has yet to receive worker adjustment and retraining notices from companies that it needs to send to the state and its employees when companies make cuts of a certain scale. .
While companies occasionally announce cutbacks, they’re pushing the last day of their employees a few weeks into the future to ensure employees comply with those rules and give employees and the state the legally required notices. to
Steele also said the company will be looking more rigorously at what it outsources to consultants and agencies going forward as part of its cost-cutting plan, adding: “Going forward, we will be more cautious about what we outsource and what we outsource. ‘ added. stop it. “
He also said Splunk will be hiring this year, “consistent with its focus on accessing global talent in low-cost sectors.”
The company’s shares rose slightly on Wednesday, briefly dipping below $100 before closing just below that mark. Splunk’s fourth-quarter results show 2022 total revenue at his $2.67 billion, up 20% year over year.
The company is one of many tech companies to recently announce layoffs. San Jose-based PayPal on Tuesday said it would cut 2,000 jobs, while NetApp and WorkDay said they would cut 8% and 3% of his workforce, respectively.
Tech giants such as Google, Microsoft and Amazon have cut tens of thousands of jobs this year.
Chase DiFeliciantonio is a staff writer for the San Francisco Chronicle. Email: chase.difeliciantonio@sfchronicle.com Twitter: @ChaseDiFelice