NetApp to eliminate 900 jobs

Infotech Lead India: NetApp is set to eliminate approximately 900 jobs.

The job reduction is part of NetApp’s plan to cut costs.

NetApp has more than 12,000 employees in more than 150 offices worldwide.

The company has been ranked #3 on the Great Place to Work Institute’s World’s Best Multinational Workplaces List, for the second year in a row.

The company website says it attracts and retains the industry’s best people and partners.

FORTUNE Magazine also ranked NetApp #6 on their 100 Best Companies To Work For list for 2013.

Announcing the quarterly result, NetApp said the company has undertaken a realignment of resources and restructuring which includes a global workforce reduction of approximately 900 employees.

NetApp expects to recognize an estimated aggregate $50 – $60 million pretax charge relating to employee severance and other restructuring charges.

Meanwhile, NetApp’s revenues for the fourth quarter of fiscal year 2013 were $1.717 billion.

Net income for the fourth quarter decreased to $174 million from $181 million.

Revenues for fiscal year 2013 increased marginally to $6.332 billion from $6.233 billion.

Net income for fiscal year 2013 decreased to $505 million from $605 million.

Q1 Fiscal Year 2014 Outlook

NetApp’s revenues will be in the range of $1.475 billion to $1.575 billion.

Earnings per share will be approximately $0.13 to $0.18.

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