SPLUNK INC : Costs Associated with Exit or Disposal Activities, Financial Statements and Exhibits (form 8-K)

Item 2.05 Costs associated with termination or disposal of activities.

upon February 1, 2023, Splunk Co., Ltd. (the “Company”) has announced a plan of reorganization (the “Plan”) involving approximately 4% of the Company’s global workforce. North AmericaThis decision supports the company’s processes, cost structure and global operations to ensure that the company continues to balance growth and profitability through these uncertain times and drive success over the long term. It’s another step in a broader series of positive organizational and strategic changes that include optimizing methods. semester.

We believe it is about $28 million Primarily related to plans, consisting of severance payments, certain severance payments (for roles moving to lower cost geographies), employee benefits and employee transition costs, and cash expenditures related to non-cash expenses expenses and future cash outlays. About Stock Compensation Expenses. In the first quarter of fiscal 2024, the Company expects to substantially complete all actions related to the Plan and incur substantially all related costs and cash outflows, subject to local legal and consultation requirements. doing.

Estimates of fees and expenses we expect to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions, including local legal requirements in various jurisdictions, and actual amounts may differ materially from estimates. may vary. In addition, we may incur other, currently unanticipated, costs or cash outlays due to unforeseen events that may occur, including those related to the implementation of our plans.

Message to our employees Gary SteeleOur President and Chief Executive Officer, Mr., is attached to this latest report on Form 8-K as Exhibit 99.1 regarding this plan and is incorporated herein by reference.

This current report on Form 8-K and Exhibit 99.1 contains forward-looking statements. This includes, but is not limited to, statements regarding the expected benefits and timing of completion of the Plan and the expected costs and expenses associated with the Plan. These forward-looking statements are based on our current plans, assumptions, beliefs and expectations. Actual results and the timing of events may differ materially from those envisioned in forward-looking statements due to a number of factors that involve known and unknown risks and uncertainties. These risks and uncertainties include, among other things, the possibility that the assumptions underlying our expected profits and the estimates of costs associated with the Plans may prove to be inaccurate. Incur costs in excess of those estimated by us in connection with the Plan. Our business, results of operations or financial condition will be adversely affected by the Plan;Other Risks and Uncertainties Included in Our Quarterly Reports on Form 10-Q for the Closed Fiscal Quarters October 31, 2022,this is US Securities and Exchange Commission (“SEC”) and other documents filed by us with the U.S. Securities and Exchange Commission SEC.
company does not undertake any obligation to update any forward-looking statements provided to reflect events occurring or existing after the date the forward-looking statements were made.

Item 9.01 Financial Statements and Materials.

 (d) Exhibits

Number                                   Description

  99.1       Message to Splunk employees from Gary Steele, dated February 1, 2023
           Cover Page Interactive Data File - the cover page XBRL tags are embedded
104        within the Inline XBRL document

© Edgar Online, Source glance

Leave a Reply

Your email address will not be published. Required fields are marked *