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Symantec to axe five per cent of workforce

Slow summer sales blamed

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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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