December 7, 2022

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

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

Seattle-primarily based application safety and shipping and delivery huge F5 is the most recent tech enterprise to announce that it’s laying off staff members.

The company verified Friday that it is cutting about 100 roles, or about 1% of its world workforce.

“We are repeatedly evaluating how to emphasis our resources to most effective meet the demands of our shoppers, whilst also currently being disciplined about our investment decision priorities,” an F5 spokesperson mentioned in an email to GeekWire. “Given the current macroeconomic ecosystem, this week we introduced adjustments internally that resulted in the elimination of a amount of positions throughout the organization.”

The corporation said it will continue on to hire in targeted spots.

The layoffs appear amid an economic downturn that is impacting a selection of tech providers. Microsoft verified it was creating cuts this week. Tech giants which includes Snap and Oracle have reduce personnel and other individuals these types of as Meta and Apple are slowing or freezing hiring. Some others like T-Cell, Compass, Leafly and DreamBox Finding out have just lately been impacted by layoffs.

F5 conquer anticipations for its 3rd fiscal quarter in July, reporting $674 million in revenue, up 4% 12 months-over-12 months, and non-GAAP earnings per share of $2.57, slightly down from the 12 months-in the past period of time. The business will report its fourth quarter and fiscal year 2022 fiscal effects up coming Tuesday.

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