Symantec to reduce employees as part of new strategies

Infotech Lead America: Symantec President and CEO Steve Bennett has announced new strategies to improve revenue of the company. It will reduce work force as part of new strategies.

Steve Bennett, Symantec president and chief executive officer.

The security major did not disclose the actual number of employees who will be terminated in 2013.

Symantec’s new strategy will streamline and simplify the security company and deliver significantly improved performance for customers and partners.

“This is a story about more focus and better execution by Symantec to make things better and easier for our customers and partners. Our path is straightforward: Offer better products and services tailor made for customers, and make it easier for them to research, shop, buy, use, and get the help and support they need,” said Steve Bennett, Symantec president and chief executive officer.

Symantec is focusing on 10 key areas that combine existing products and services into new, innovative and comprehensive solutions that meet multiple customer needs with integrated and higher value offerings.

The overall development process is estimated to take six to 24 months depending on the specific offering.

These future offerings are intended to align with meeting three key customer needs: Making it simple to be productive and protected at home and work; keeping businesses safe and compliant; and keeping business information and applications up and running.

Symantec will increase its investment in research and development and homegrown innovation to better meet next generation needs.

Symantec will also establish strategic partnerships where it can integrate what it does with others to add even more value for customers.

Symantec’s sales process will rely on the channel to manage current customers and free up Symantec’s sales force to focus on generating new business. Symantec will also enhance the marketing organization with more strategic resources and capability to accelerate focus and organic growth.

There will be fewer executives and middle management positions, resulting in a reduction of the workforce. This process is expected to be completed by the end of June 2013. Symantec expects $275 million in severance payments as a result of the layoffs, which will be conducted through June.

Symantec will establish a dedicated renewals team, refocus our direct field sales representatives on new business and eliminate duplicative organization and operating structures.

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