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

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

Seattle-based software protection and shipping and delivery giant F5 is the hottest tech enterprise to announce that it is laying off employees.

The corporation confirmed Friday that it is reducing about 100 roles, or about 1% of its global workforce.

“We are continually analyzing how to target our means to finest meet up with the desires of our shoppers, even though also staying disciplined about our expenditure priorities,” an F5 spokesperson claimed in an e mail to GeekWire. “Given the latest macroeconomic surroundings, this 7 days we declared variations internally that resulted in the elimination of a quantity of positions throughout the company.”

The corporation said it will continue on to retain the services of in targeted regions.

The layoffs arrive amid an economic downturn that is impacting a number of tech organizations. Microsoft verified it was building cuts this 7 days. Tech giants like Snap and Oracle have reduce staff members and others such as Meta and Apple are slowing or freezing hiring. Many others such as T-Cell, Compass, Leafly and DreamBox Studying have lately been impacted by layoffs.

F5 conquer anticipations for its third fiscal quarter in July, reporting $674 million in profits, up 4% 12 months-around-yr, and non-GAAP earnings per share of $2.57, marginally down from the year-ago interval. The corporation will report its fourth quarter and fiscal yr 2022 economical final results next Tuesday.

F5 has expanded even further into software package and expert services in the latest decades with the acquisition of businesses including Nginx for $670 million Shape Safety for $1 billion Volterra for $500 million and Threat Stack for $68 million.

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