Seeking Alpha

NetApp cutting another 600 jobs

  • 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.
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