NetApp Layoffs Approach 6 Percent Of Company Workforce: Report
Data storage and management software vendor is scheduled to announce its fiscal 2021 first quarter results this afternoon.
NetApp is reportedly cutting its workforce by more than 5 percent as the storage system and data management software vendor prepares to announce its fiscal 2021 first quarter results.
NetApp is cutting about 5.5 percent of its 11,000-strong workforce with marketing staff taking the biggest hit, according to a report on The Register website. Engineers and developers that joined NetApp’s employee ranks following its 2015 acquisition of all-flash array vendor SolidFire were also among those taking the brunt of the cuts, The Register said.
A NetApp spokesperson would not comment directly to CRN on the reported layoffs.
“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,” NetApp said in a statement provided to CRN. “NetApp is realigning resources and investments to best capture these opportunities and position the company for long-term success.”
“These changes are a continuation of the transformation we are undertaking as we focus on driving growth for more customers globally by enabling their digital transformations and cloud journeys. As we are currently in our earnings quiet period, any further commentary will follow after our earnings call on August 26,” the company statement said.
The Register said it had learned of a company-wide email that went out to all employees on Tuesday that informed staffers about the 5.5 percent cut to the company’s workforce. Employees who were losing their jobs were reportedly informed Tuesday.
NetApp is scheduled to release the financial results of its fiscal 2021 first quarter at 2:00 PDT/5:00 EDT today. In May, when NetApp announced its fiscal 2020 full year and fourth quarter results the company forecast that revenues in the fiscal 2021 first quarter would be in the range of $1.09 billion to $1.24 billion with projected earnings per share in the range of $0.18 to $0.26.