Symantec makes progress on restructuring cuts 1,700 employees

With the reorganization plan that has put in place, the company expects to save between 220 and 250 million dollars.

While the last quarter's results of Symantec, which is already in its fiscal year 2014, has produced good numbers, the company is undergoing a process of corporate restructuring.

The objective is to strengthen its leading market solutions and seek strategic alliances, to which the CEO of the company, Steve Bennett, already said that numerous changes, there would be including the forecast of eliminating between 30% and 40% of managerial posts.

These days the company is preparing to lay off 1,700 employees in lathe, according to sources cited by the American middle AllThingsD.

The cuts are going to produce in two phases. Around 1,000 jobs will eliminate this month and other 700 will be removed in July.

In total, Symantec provides restructuring amounts to about 8% of 21,500 employees of the firm worldwide.

The company has assured that with this reorganization expected to save between 220 and 250 million dollars. The cuts must be complete before the end of the fiscal year 2014 that the manufacturer has started on March 30.

In an official statement issued by the company, Ellen Hayes, Symantec's spokesman, said that "there are several stages in the process, that we have divided between the layers Executive and positions of management at all levels of employees".

1,300 employees less on the template of IBM in the United States.UU.

The cut is part of a restructuring plan global following the company's weak results in the first quarter of the year.

He already announced yesterday. IBM is going to make a cut in its workforce of us.UU to affect around 1,300 workers from different areas of business.

The reduction involves at least 222 professionals in the area of marketing for software business and 165 of the area of research and development of semiconductors, he said Lee Conrad, Coordinator of the coalition of Association of the company, as reported by Bloomberg.

The move is part of a global restructuring plan that IBM announced in April after the weak results for the first quarter.

The company then announced a reduction of employment which would focus abroad and which would be completed at the end of June. The restructuring will cost 1 billion dollars worldwide, including compensation expenses.

Analyst Laurence Balter, of Oracle Investment Research, has detailed that the manufacturer presicindira of between 6,000 and 8,000 jobs around the world, probably based on the $ 1 billion figure targeted by the company.

"Change is constant in the industry of technology and the transformation is a feature of our business model," said IBM in a public statement.

Yesterday in the bag manufacturer shares fell 1.4% to $201,20, while this year had risen by 5%, recovering from the fall in April after the results below forecasts.