Sumo Logic lays off employees after being acquired by Francisco Partners: Report

As tech companies continue to sack employees amid economic downturn worldwide, Sumo Logic has become the latest to go through with a round of layoffs. According to a report by The Information, the big data analytics software company sent a notice to state regulators that 79 employees would permanently lose their jobs. However, it is unclear what severance, if any, was offered to affected employees in the organisation.

The job cuts come after the company announced it had been acquired by San Francisco private equity firm Francisco Partners in May. The deal valued the company at $1.7 billion approximately.