Feeds

Symantec plans layoffs as sales fall short

Ill wind blows forecasts off course

Protecting against web application threats using SSL

Symantec has announced plans to cut its wage bill by 4.5 per cent in a move likely to means hundreds of people will lose their jobs with the security and storage software firm.

Chief financial officer James Beer also detailed previously announced plans to outsource work done by its IT and finance departments during a conference call discussing disappointing financial results.

Symantec's revenues rose to $1.52bn in the quarter ending 3 October, but this fell short of the $1.54bn analysts were expecting. These problems are likely to persist with Symantec predicting revenues of between $1.45bn to $1.5bn in Q3 against earlier Wall St estimates of $1.61bn.

Shares in the software giant slipped from around $15 to $12.20 on the news.

A Symantec spokesman said layoffs would occur across its global business. Staff affected can expect to be notified starting next month.

During its Managed Fusion event in the Netherlands earlier this month, Symantec boss John Thompson said that it wasn't immune if the economic slowdown creates tough times for its customers, adding that the depth of Symantec's portfolio would help it weather the storm. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
Early result from Scots indyref vote? NAW, Jimmy - it's a SCAM
Anyone claiming to know before tomorrow is telling porkies
TOR users become FBI's No.1 hacking target after legal power grab
Be afeared, me hearties, these scoundrels be spying our signals
Jihadi terrorists DIDN'T encrypt their comms 'cos of Snowden leaks
Intel bods' analysis concludes 'no significant change' after whistle was blown
Home Depot: 56 million bank cards pwned by malware in our tills
That's about 50 per cent bigger than the Target tills mega-hack
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
NORKS ban Wi-Fi and satellite internet at embassies
Crackdown on tardy diplomatic sysadmins providing accidental unfiltered internet access
UK.gov lobs another fistful of change at SME infosec nightmares
Senior Lib Dem in 'trying to be relevant' shocker. It's only taxpayers' money, after all
Critical Adobe Reader and Acrobat patches FINALLY make it out
Eight vulns healed, including XSS and DoS paths
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.