Juniper's (JNPR) job cut disclosure comes five weeks after new CEO Shaygan Kheradpar unveiled (with Elliott Management's blessing) an "Integrated Operating Plan" that calls for $160M/year in opex savings by Q1 2015, and a 580 bps improvement in op. margin from 2013 to 2015.
Juniper, which has ~9.5K employees, expects to record $35M worth of charges in Q1. The company also expects to record $70M worth of charges (starting in Q2) related to plans to dispose of 300K sq. feet of leased facilities, and $20M worth of other charges later this year.
Product development related to the application delivery controller (ADC) technology Juniper licensed from Riverbed (RVBD) for $75M in 2012 is coming to an end. Juniper expects to record an $85M Q1 non-cash charge related to the move.
JNPR -0.6% AH.