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New Delhi, Aug 11 (Ians) Cloud virtualisation provider Nutanix has announced to lay off 270 employees, which represents 4 per cent of its global workforce.
The company said the decision has been taken following a review of its business structure and after taking other cost-cutting measures to reduce expenses.
“The headcount reduction is part of the company’s ongoing efforts to drive towards profitable growth. The company expects to complete substantially all of the headcount reduction by the end of the fiscal quarter ending October 31, 2022,” Nutanix said a filing with the US Securities and Exchange Commission (SEC).
As a result of the headcount reduction, the company currently estimates that it will incur a pre-tax charge in the range of 20 million to 25 million during the fiscal quarter ending October 31, consisting of one-time severance and other termination benefit costs.
Nutanix will announce its full 2022 results after US markets close on August 31.
Last year, enterprise software...
The company said the decision has been taken following a review of its business structure and after taking other cost-cutting measures to reduce expenses.
“The headcount reduction is part of the company’s ongoing efforts to drive towards profitable growth. The company expects to complete substantially all of the headcount reduction by the end of the fiscal quarter ending October 31, 2022,” Nutanix said a filing with the US Securities and Exchange Commission (SEC).
As a result of the headcount reduction, the company currently estimates that it will incur a pre-tax charge in the range of 20 million to 25 million during the fiscal quarter ending October 31, consisting of one-time severance and other termination benefit costs.
Nutanix will announce its full 2022 results after US markets close on August 31.
Last year, enterprise software...
- 8/11/2022
- by Glamsham Bureau
- GlamSham
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