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5 Companies That Had A Rough Week

For the week ending August 3, CRN looks at IT companies that were unfortunate, unsuccessful or just didn't make good decisions.

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Symantec To Shed Staff

Grappling with residual costs after last year's divestitures, Symantec said it will reduce its global workforce by roughly 8 percent. That means as many as 880 employees are facing job loss as part of the platform security vendor's cost-cutting strategy.

In an earnings call, Symantec CEO Greg Clark said the company is "still not extremely happy with the enterprise segment margins."

The cuts are aimed at returning Symantec to higher long-term margins, Clark said.

 
 
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