JANUARY 31, 2023 — RESTRUCTURING PLAN WITH APPROXIMATELY 960 LAYOFFS
The company has announced a restructuring and cost-containment initiative resulting in a personnel realignment that will impact approximately 8 percent of the workforce, or 960 employees, and be completed by the end of the fourth quarter of fiscal 2023.
The company's SEC announcement, "On January 31, 2023, NetApp, announced a plan to restructure and reduce the Company’s workforce as a part of its planned efforts to realign resources to prioritize investments against its biggest opportunities in light of the macroeconomic challenges and reduced spending environment that continue to impact the Company.
In connection with these actions, the Company expects to reduce its worldwide headcount by approximately 8%. The reduction in workforce is expected to be substantially implemented through the end of the fourth quarter of fiscal 2023.
CEO George Kurian noted, "Companies are facing an increasingly challenging macroeconomic environment, which is driving more conservatism in IT spending. We are not immune to these challenges."
"Starting today, we will be making changes that will reduce the size of our team by around eight percent. In parts of EMEA and APAC, the realignment and potential employee impact are subject to local consultation processes, which are ongoing."
"While very thoughtful in planning, this is one of the hardest tasks to take, and we fully appreciate the impact that may have on the talented team members who have made countless contributions to our business."
SEPTEMBER 2, 2020 — Original post…
Sunnyvale, California-based NetApp, a hybrid cloud data services and data management company, has announced the layoff of 700 employees, including more than 100 employees at the NetApp Solidfire facility in Boulder, Colorado, which was acquired for $870 million in 2015.
“NetApp is realigning resources and investments to best capture these opportunities and position the company for long-term success."
"We continue to sharpen our focus on markets where we have both a significant presence and clear competitive advantage, specifically with our storage software and systems and cloud data services."
“These changes are a continuation of the transformation we are undertaking as we focus on driving growth for more customers globally by enabling their digital transformations and cloud journeys.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?