NetApp to slash job by about 5.5% due to Covid-19 pandemic

NetApp is slashing its job by about 5.5 percent due to the Covid-19 pandemic, The Register reported.
NetApp for business technology
Most of the affected employees are likely to be part of marketing staff and engineers and developers acquired with all-flash array vendor Solid Fire in 2015.

NetApp, which currently has about 11,000 employees, is in the process of realigning resources and investments in a bid to position the company for long-term success, the enterprise IT supplier told The Register in a statement.

“We continue to sharpen our focus on markets where we have both a significant presence and clear competitive advantage, specifically with our storage software and systems and cloud data services,” the statement added.

NetApp, California-headquartered global Cloud data services company, on May 27 reported financial results for the fourth quarter and fiscal year 2020, which ended on April 24.

The company reported net revenues of $1.40 billion for the fourth quarter of fiscal year 2020, compared to $1.59 billion in the same period last year.

The company said net revenues are expected to be in the range of $1.090 billion to $1.240 billion in its outlook for the first quarter of fiscal year 2021.

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