Sunday, March 18, 2007

Layoffs Begin As Symantec Cuts $200 Million In Costs

infomationweek--

Symantec on Thursday began a series of layoffs, which had first been announced in January to reduce its structure costs by $200 million.
"With a disappointing quarter behind us, we are moving to better align our costs with our new revenue expectations," CEO John Thompson said in a January conference call. "I am confident that we have the right strategy in place. However, we must sharpen our execution."

A company spokesman did confirm that the layoffs began on Thursday however, did not specify how many people would be let go.

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