Symantec may slash five percent of workforce | SC Media

Symantec may slash five percent of workforce

January 25, 2007

Symantec plans to slash up to five percent of its workforce over the next few months, executives said on Wednesday.

The security software firm this week reported a 25-percent increase in quarterly profits, but planned to save around $200 million by cutting jobs, according to John Thompson, chairman and chief executive officer, who broke the news in a conference call with analysts.

The Cupertino, Calif. firm plans to cut its "employee cost base" by five percent from corporate functions that do not have a product development, sales or support function, he said.

Engineering and customer-facing roles will not be affected by the losses, Thompson maintained.

"With a disappointing quarter behind us, we are moving to better align our costs with our new revenue expectations," he said in a statement. "I am confident that we have the right strategy in place; however, we must sharpen our execution."

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