July 14, 2024


Simply Consistent

F5 cutting about 100 jobs due to ‘current macroeconomic environment’ – GeekWire

F5 cutting about 100 jobs due to ‘current macroeconomic environment’ – GeekWire

The F5 Tower in downtown Seattle. (GeekWire File Photo / Kurt Schlosser)

Seattle-primarily based application security and supply large F5 is the most current tech enterprise to announce that it is laying off staff.

The firm verified Friday that it is slicing about 100 roles, or about 1% of its international workforce.

“We are consistently assessing how to concentrate our resources to greatest meet up with the requirements of our customers, while also being disciplined about our financial commitment priorities,” an F5 spokesperson reported in an e-mail to GeekWire. “Given the existing macroeconomic setting, this 7 days we announced alterations internally that resulted in the elimination of a range of positions across the business.”

The organization said it will carry on to use in targeted regions.

The layoffs appear amid an economic downturn that is impacting a variety of tech businesses. Microsoft verified it was building cuts this week. Tech giants together with Snap and Oracle have slice team and others such as Meta and Apple are slowing or freezing hiring. Other people like T-Cell, Compass, Leafly and DreamBox Learning have recently been impacted by layoffs.

F5 beat anticipations for its 3rd fiscal quarter in July, reporting $674 million in income, up 4% 12 months-around-calendar year, and non-GAAP earnings for every share of $2.57, slightly down from the yr-ago period. The firm will report its fourth quarter and fiscal calendar year 2022 fiscal success following Tuesday.

F5 has expanded further more into software and companies in new several years with the acquisition of companies including Nginx for $670 million Shape Stability for $1 billion Volterra for $500 million and Threat Stack for $68 million.