[ISN] Symantec layoffs coming

From: InfoSec News <alerts_at_private>
Date: Fri, 31 Oct 2008 04:08:47 -0600 (CST)

By Elinor Mills 
October 30, 2008

Symantec will lay off an undetermined number of workers before the end 
of the year as part of a cost-cutting move in the economic downturn, a 
company spokesman said on Thursday.

The company, which gave guidance on Wednesday that was short of analyst 
expectations, plans a 4.5 percent cost savings in its workforce budget 
and will reduce the headcount enough to accomplish that, said spokesman 
Cris Paden.

Paden said he did not know how many employees would be laid off as a 
result, but said the layoffs will be global, will vary across 
geographies, and that no specific business units were being targeted.

"We are shooting for a specific (cost savings) figure. So whatever gets 
us to that figure" will be done, he said. The goal is to maintain 
soundness of Symantec's financials "given how unpredictable the economic 
environment is right now."

Symantec will start alerting employees within the next month, according 
to Paden.


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Received on Fri Oct 31 2008 - 03:08:47 PDT

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