Extreme Networks is set to eliminate jobs globally as part of a major restructuring.
The company did not reveal the number of jobs which will be reduced as part of the cost cutting program.
As per the new strategy, Extreme Networks will be implementing its new solutions-based go-to-market strategy.
“As a first step to implementing the new operating plan, the company has begun to restructure its global workforce and implement other operating cost reductions. The company expects to incur a restructuring charge of $13-15 million for employee related termination benefits,” said Extreme Networks.
These actions are expected to yield approximately $40 million in reduction to operating costs in fiscal 2016, said Extreme Networks.
Ed Meyercord, president and CEO of Extreme Networks, said: “Our focus will be to build on our strong customer relationships with a solutions-based approach and the highest level of customer support in the industry.”
Extreme Networks will evolve its SDN capability and expand its investments in cloud solutions to deliver services that allow customers the ability to access application services seamlessly through the networking layer.
In addition, Extreme Networks will continue to invest in its EOS software and hardware platforms as well as aggressively accelerate its EXOS platforms to better take advantage of market advancements in networking technology.