Feeds

NetApp to 'realign', cut 600 jobs worldwide

Axe sharpened due to 'constrained IT spending climate'

Top 5 reasons to deploy VMware with Tegile

NetApp has announced it will cut 600 jobs around the world, as part of a plan to adopt “... a business realignment plan designed to focus its resources on key strategic initiatives and streamline its business in light of the constrained IT spending environment.”

The company announced the plan today in a form 8-K filed with the United States Securities and Exchange Commission (SEC).

The SEC defines a form 8-K as “the 'current report' companies must file with the SEC to announce major events that shareholders should know about.” That NetApp has issued such a document is therefore a sign it needs to let shareholders know things aren't going to plan, lest they fling sueballs at it in future for inadequate disclosure.

The filing doesn't say much more than the quotes above: there's no detail other than warning “of approximately $35 to $45 million for employee terminations and other costs associated with the business realignment plan.”

What's going on at NetApp to make this necessary? The company already flagged the “constrained IT spending environment when discussing its third quarter results, so that's not a new problem although it may be one that has worsened.

Perhaps the intention to “focus ... resources on key strategic initiatives” tells us more about the company's woes. If so, what are the initiatives that NetApp considers not to be key? The imminent FlashRay all flash array must surely be consider both key and strategic. Developing products cloud operators can use is important, too, because selling to service providers helps to pick up revenue that would otherwise have gone to clients' on-premises arrays.

So what's neither “key” nor “strategic” for NetApp? To the forums, dear readers! ®

Beginner's guide to SSL certificates

More from The Register

next story
Ellison: Sparc M7 is Oracle's most important silicon EVER
'Acceleration engines' key to performance, security, Larry says
Oracle SHELLSHOCKER - data titan lists unpatchables
Database kingpin lists 32 products that can't be patched (yet) as GNU fixes second vuln
Lenovo to finish $2.1bn IBM x86 server gobble in October
A lighter snack than expected – but what's a few $100m between friends, eh?
Ello? ello? ello?: Facebook challenger in DDoS KNOCKOUT
Gets back up again after half an hour though
Hey, what's a STORAGE company doing working on Internet-of-Cars?
Boo - it's not a terabyte car, it's just predictive maintenance and that
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.