- Cloud data services company NetApp ( NASDAQ: NTAP ) plans to reduce its worldwide headcount by approximately 8% and expects to incur ~$85M-$95M in charges, as per a regulatory filing .
- Citing macroeconomic challenges and reduced spending environment, the company noted that the actions are part of planned efforts to realign resources to prioritize investments.
- The job cuts are expected to be substantially implemented through the end of the fourth quarter of fiscal 2023. Majority of the charges will be cash expenditures, the filing suggests, with majority of them to be recognized in the third quarter of fiscal 2023.
- Earlier today, Workday ( WDAY ) announced plans to eliminate ~3% of its global workforce
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NetApp to eliminate ~8% of global headcount