- NetApp's (NTAP) new job cuts come on top of 2013 layoffs that impacted 900 employees, and which followed pressure from activist investor Elliott Management. (8-K)
- With NetApp having 12,680 employees at the end of its January quarter, ~5% of its workforce stands to be affected. The enterprise storage vendor expects to record $35M-$45M worth of charges.
- The news arrives exactly a month after NetApp provided light April quarter revenue guidance.