Seattle-based mostly application stability and supply large F5 is the most recent tech organization to announce that it’s laying off staff members.
The company verified Friday that it is reducing about 100 roles, or about 1% of its world wide workforce.
“We are continuously evaluating how to focus our assets to best meet the wants of our customers, while also currently being disciplined about our financial investment priorities,” an F5 spokesperson reported in an email to GeekWire. “Given the recent macroeconomic atmosphere, this week we introduced alterations internally that resulted in the elimination of a range of positions throughout the organization.”
The corporation reported it will keep on to employ the service of in specific regions.
The layoffs appear amid an economic downturn that is impacting a number of tech providers. Microsoft confirmed it was earning cuts this week. Tech giants like Snap and Oracle have cut employees and other people this kind of as Meta and Apple are slowing or freezing using the services of. Many others which include T-Mobile, Compass, Leafly and DreamBox Studying have lately been impacted by layoffs.
F5 defeat expectations for its 3rd fiscal quarter in July, reporting $674 million in revenue, up 4% year-above-calendar year, and non-GAAP earnings for each share of $2.57, slightly down from the yr-in the past interval. The firm will report its fourth quarter and fiscal 12 months 2022 fiscal success up coming Tuesday.
F5 has expanded even further into application and expert services in the latest decades with the acquisition of providers including Nginx for $670 million Shape Security for $1 billion Volterra for $500 million and Threat Stack for $68 million.