More layoffs rumored at Symantec

Rumors began swirling today about potentially huge layoffs at security giant Symantec.

Silicon Valley gossip blog Valleywag reported a source as having seen a confidential HR document detailing the firing plan, known as "Project Xpress."

Symantec - fresh off a $350 million buy of data-leak prevention provider Vontu - won't say much about the speculation, but certainly did not dismiss the rumor when queried today by

Melissa Martin, Symantec's director of corporate communications, told me today in an email: "Symantec continues to have a strong focus on controlling its costs and has set cost savings targets for each business function. In some instances, headcount reductions may be implemented as part of its ongoing cost savings initiative."

This is not the first time this year that Big Yellow has discussed pink slips.

In March, the company began laying off workers, holding true to an earlier promise that it would cut five percent of its workforce to save about $200 million in costs.

This time, the number of planned layoffs sounds dire and could be the result of slumping sales in North America.

Before the March round of layoffs, Symantec employed about 17,500 people worldwide.

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