Nutanix to slash 5% of global workforce as part of ‘business structure’ review
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The cuts will include up to $43 million in pre-tax charges and are expected to be completed by the end of October Nutanix is slashing approximately 5% of its global workforce as part of a broader operational restructuring, a move that will include up to $43 million in pre-tax charges and is expected to be completed by the end of October. The cuts were announced in a Securities and Exchange Commission (SEC) filing and explained as coming after "a review of its business structure." "The workforce reduction is intended to streamline and realign the company's organizational structure; improve operational efficiency and agility; and reallocate resources toward strategic priorities and long-term growth objectives," the filing noted. The filing did not provide a specific number of jobs being cut or the location of those reductions. SDxCentral has reached out to Nutanix for more details on the job cuts. Nutanix's plan to cut 5% of its workforce is similar to Cisco's move earlier this year to also slash around the percentage of its workforce. Cisco's cuts impacted around 4,000 employees and was followed by a surge in its stock price. Nutanix did report better than expected earnings for its most recent fiscal quarter that were bolstered by continued traction in gaining disenchanted VMware customers against some tightening due to ongoing supply chain challenges. Nutanix's results for...
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