And people are unhappy. This is not going to end well.
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They done daily and weekly firings of staff through the years much more than 70 they're a volatile company with a poor cloud product.
https://www.bizjournals.com/sanjose/news/2020/06/18/splunk-layoffs.amp.html
Data analytics company Splunk is cutting 70 people from its workforce, a move that comes as a number of tech companies are slashing jobs in the face of the Covid-19 economic meltdown, Bloomberg reports.
The layoffs represent about 1% of Splunk's workforce, based on the headcount it listed as of January, according to Bloomberg. The company, which maintains dual headquarters in San Francisco and at Santana Row in San Jose, in its first-quarter earnings call forecasted second-quarter revenue that was less than what Wall Street analysts were expecting.
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"Customers across all sectors are trying to understand the economic impact of the current COVID-19 business environment. As a result, signed contracts this quarter tended to be shorter in duration, going from 34 months in Q4 to 27 months in Q1. We see this being especially prominent in sectors hardest hit by the crisis like retail, hospitality and travel," said Doug Merritt, CEO of Splunk, during the earnings call.
Merritt recently told the Silicon Valley Business Journal that while his intention is to grow the company's headcount in 2020, he wasn't ready to commit to making no layoffs this year, given the uncertainty created by the Covid-19 pandemic.
It was 70 people which is not significant at all - https://www.bizjournals.com/sanfrancisco/news/2020/06/18/splunk-shrinks-its-workforce-latest-tech-company.html - and has no reflection on the business value. Most the posts here seem to be competitor trolls with nothing backing up their assumptions of "this is not going to end well". What wont? Of course people are sad when they get let go.