NetApp
is
set
to
cut
roughly
960
jobs,
or
about
8
percent
of
its
global
workforce,
as
the
data
management
firm
grapples
with
tough
economic
conditions
that
have
crimped
customer
spending.
The
company
expects
to
implement
the
job
cuts
largely
through
the
end
of
fiscal
2023
and
incur
related
charges
of
about
US$85
million
to
US$95
million
(A$120
million
to
A$135
million)
in
the
third
quarter.
US
companies
have
been
downsizing
and
slashing
costs
to
better
cope
with
the
global
economic
downturn
after
global
central
banks
unleashed
rapid
interest
rate
hikes
to
tackle
inflation.
“Companies
are
facing
an
increasingly
challenging
macroeconomic
environment,
which
is
driving
more
conservatism
in
IT
spending.
We
are
not
immune
to
these
challenges,”
NetApp
CEO
George
Kurian
said
in
a
letter
to
employees.
The
company
had
about
12,000
employees
as
of
April
29,
2022.
Earlier
in
the
day,
software
maker
Workday
also
announced
plans
to
cut
three
percent
of
its
more
than
15,000
staff.
About Author
