Thread regarding F5 Networks Inc. layoffs

F5 made many mistakes along the way especially acquiring companies. I think its (4) over the last 5 years. That's close to $2B and the products have yet to show any growth. Just listen to the earnings calls. Yes, it will take time, but NGINX is down, GM + many of the NGINX teams, Shape or Distributed Cloud has had challenges and the new Cloud company they bought is still questionable.

These have highly impacted the layoff decisions and that's too bad. Economy + inflation played a huge factor. Tech sector is getting butchered with the amount of hirings during COVID and now employees must pay the price.

Hoping those impacted will find new roles as I believe layoffs are still in the near future for F5.

Keep those resumes updated!

F5 RIF is not regional specific but rather roles/compensation specific. This is an action to reduce operating costs. NA bears the highest labour/payroll costs therefore more jobs in USA were cut than any other regions. Any jobs can be done in India or Mexico were eliminated regardless of production quality. F5 will get by with less quality production until recession is over. Until sales/revenues bounces back, the hiring will not happen. In the past few months, several large F5 customers canceled or scaled back their capital expenses, as a result they canceled the deals with F5( it was being done already but was axed by VP level at the last minutes) due to downturn economy outlook. The blame is on stubborn high inflation and the Federal Reserve hiking rates to the point businesses can't expand, it costs more money to do business today. Blame the people who took COVID money and went to live in Mexico, The Philippines, Thailand, Portugal, instead of working to keep economy running.

its always the way.. in the USA you get handed a box with your sh-t. Other countries have labor laws that prevent this from happening - there are periods of notification, and then a minimum period of time before termination happens etc etc.

Read the posts on LinkedIn. So many great talented folks are now wondering why? US was hit the hardest due to cost of employment. From what I have heard, it was north of 50% of the 620 employees impacted. Latin America, EMEA and APCJ have some high numbers in % of employees, but the various laws in countries will take time to officially know what the true numbers are (if at all). NGINX may have been a big contributing factor to the layoffs as $650m+ acquisition has yet to pay off anywhere close to what the company imagined. Sounds like a major re-org in the works across all business groups - sales, marketing, products, engineering, etc..

They announced that in EMEA the process would take several weeks. Best way to demotivate people.

Very much wondering that myself. It seemed like a bloodbath in North America on Thursday.