Symantec said it plans to take a series of cost reduction actions over the next nine months to address residual costs that remain after the platform security vendor’s divestitures last year.
The company said that its board of directors has approved US$50 million in restructuring expenses in connection with a plan to reduce Symantec’s global headcount by up to approximately 8 percent.
Symantec employs more than 11,000 people, according to the company’s website, meaning as many as 880 employees could be affected by the cost-cutting efforts.
“We’re still not extremely happy with the enterprise segment margins,” Symantec CEO Greg Clark said during the company’s earnings call Thursday. “This is just now…
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