Cloud firm NetApp to lay off 5.5% workforce amid COVID-19
California-headquartered global Cloud data services company NetApp is trimming its workforce by about 5.5 % amid the COVID-19 pandemic, The Register reported
California-headquartered global Cloud data services company NetApp is trimming its workforce by about 5.5 % amid the COVID-19 pandemic, The Register reported.
Most of the affected employees are likely to be part of marketing staff and engineers and developers acquired with all-flash array vendor Solid Fire in 2015, said the report on Wednesday.
The report comes ahead of the company announcement of quarterly results on Wednesday.
NetApp which currently has about 11,000 employees is "realigning resources and investments" in a bid to "position the company for long-term success," the enterprise IT supplier told The Register in a statement.
"We continue to sharpen our focus on markets where we have both a significant presence and clear competitive advantage, specifically with our storage software and systems and cloud data services," the statement added.
NetApp on May 27 reported financial results for the fourth quarter and fiscal year 2020, which ended on April 24.
For the fourth quarter of fiscal year 2020, the company reported net revenues of $1.40 billion, compared to $1.59 billion in the same period last year.
In its outlook for the first quarter of fiscal year 2021, the company said that net revenues are expected to be in the range of $1.090 billion to $1.240 billion.