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."
