NetApp said it would cut roughly 960 jobs, or about 8 percent of its global workforce. NetApp had about 12,000 employees as of April 29, 2022.
NetApp expects to implement the job cuts largely through the end of fiscal 2023 and incur related charges of about $85 million to $95 million in the third quarter.
“Companies are facing an increasingly challenging macroeconomic environment, which is driving more conservatism in IT spending. We are not immune to these challenges,” NetApp Chief Executive George Kurian said in a letter to employees.
