Data analytics firm Sumo Logic has slashed 79 employees in the latest tech layoffs.
The decision came less than a month after the company was acquired for $1.7 billion by global investment firm Francisco Partners.
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CEO Joe Kim informed staff that one group would receive notifications of their roles being eliminated while another would be informed that their positions were secure.Â
Sumo Logic had a total workforce of 983 employees based on its most recent annual filing.
Blind, an online company review site, featured anonymous posts from laid-off Sumo Logic employees who revealed that they received two months of pay but no additional benefits.
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In May, Sumo Logic announced the completion of its acquisition by Francisco Partners.
It described itself as a SaaS analytics platform for reliable and secure cloud-native applications.Â
The all-cash transaction valued the company at approximately $1.7 billion.
