The latest job cuts will impact hundreds of employees. Data storage giant #NetApp is laying off more workers. The company said in regulatory filing on Thursday that it would lay off 6% of its workforce, or about 640 employees based on its total headcount of 10,700 workers. NetApp said that the layoffs were part of an effort to streamline its core business and cut expenses. The company will take a charge of about $50 million to $60 million for the layoffs and the related costs, the filing said.
The company said in regulatory filing on Thursday that it would lay off 6% of its workforce, or about 640 employees based on its total headcount of 10,700 workers.
NetApp said that the layoffs were part of an effort to streamline its core business and cut expenses. The company will take a charge of about $50 million to $60 million for the layoffs and the related costs, the filing said.
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The layoffs, which will take place through the end of next year, come on top of a another round of 1,500 job cuts announced in February. Those layoffs—in addition to yet another layoff plan last year— have been substantially completed as of July, according to a September regulatory filing,
Like many big enterprise hardware companies like Hewlett-Packard Enterprise #HPE 4.85% and #Cisco CSCO 2.48% that have recently laid off staff, the rise of cloud computing has hurt NetApp’s core business of selling data center storage hardware. Instead of buying hardware, businesses are paying for computing resources on demand from technology giants like #Amazon AMZN 3.96% and #Microsoft MSFT 2.91% .
http://fortune.com/2016/11/03/netapp-layoff-employees/
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