F5, a Seattle based application security and delivery giant, is the latest technology company to announce layoffs.
The company confirmed on Friday that it will cut about 100 jobs, accounting for about 1% of the total number of employees worldwide.
An F5 spokesperson said in an email to GeekWire: “We are constantly evaluating how to focus our resources to best meet the needs of our customers, while also maintaining discipline on our investment priorities.”. “Considering the current macroeconomic environment, we announced internal reforms this week, which led to the cancellation of a large number of positions within the company.”
The company said it would continue to recruit employees in the target areas.
The layoff comes at a time when the economic downturn is affecting many technology companies. Microsoft confirmed that it will make layoffs this week. Technology giants such as Snap and Oracle have cut jobs, while companies such as Meta and Apple are slowing or freezing recruitment. Other companies, including T-Mobile, Compass, Leafly and DreamBox Learning, have also been affected by layoffs recently.
F5 exceeded expectations in the third fiscal quarter in July, reporting revenue of 674 million US dollars, up 4% year on year, and non GAAP EPS of 2.57 US dollars, slightly lower than the same period last year. The company will report its financial results for the fourth quarter and fiscal year 2022 next Tuesday.
In recent years, F5 has further expanded to the software and service fields, acquiring Nginx and other companies with US $670 million; $1 billion in shape safety; Volterra 500 million dollars; And the threat stack of $68 million.
