Symantec to axe jobs as part of $200 Million cost reduction

By Justin Mann on March 15, 2007, 4:42 PM
Symantec is looking to cut its operating costs, bringing its “cost structure” down by a massive $200 million. To that end, they are cutting 5% of their workforce of about a staff of 17,500 worldwide. While not citing specific numbers, they also mention they will be “consolidating facilities”, another term for shutting some offices down, reduce 3rd party contracting and hire less new people. We've seen many companies doing similar measures, such as Intel, the past year. For Symantec, it seems to be in response to a disappointing quarter on its enterprise services.

They also don't mention where, exactly, the jobs will be cut from, be it management, development or other.

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