Symantec to axe five per cent of workforce

Slow summer sales blamed

Symantec has confirmed it plans to lay off 100 employees next year. The company blamed slow summer sales. The job losses are part of a cost-cutting exercise, said Symantec senior spokeswoman Amy Savage, and will take in five per cent of the company's 2500 workforce. "Sales have been soft for a couple of months, and that has an effect," she said. "We're trying to get expenses in line with revenues." In addition to poorer than average sales, Symantec also faces a $5 million loss thanks to its compliance with the restraining order placed in it as part of its legal fight with CyberMedia. The company will also take a hit from its purchase of Intel's antivirus business (see Intel-Symantec deal begs questions about primitives), though it denies either this purchase or the $5 million loss provoked the job cuts. ® Click for more stories

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