Adaptec Reduces Workforce By 325 Workers - EnterpriseStorageForum.com

Adaptec Reduces Workforce By 325 Workers

Download the authoritative guide: Enterprise Data Storage 2018: Optimizing Your Storage Infrastructure

Adaptec, Inc. today announced a restructuring plan that includes a reduction in workforce of approximately 325 positions or 15 percent of its workforce with additional cuts being made in discretionary spending.

"These actions were made necessary by the sluggish economy, which has continued beyond most industry estimates, and has now spread into Europe and Asia," said Robert Stephens, president and CEO of Adaptec.

Once fully implemented, Adaptec says these steps will result in annualized savings of approximately $35 million. The company will incur a one-time restructuring charge associated with these actions of approximately $6 million this quarter.


Comment and Contribute

 


(Maximum characters: 1200). You have characters left.

 

 

Storage Daily
Don't miss an article. Subscribe to our newsletter below.

By submitting your information, you agree that enterprisestorageforum.com may send you ENTERPRISEStorageFORUM offers via email, phone and text message, as well as email offers about other products and services that ENTERPRISEStorageFORUM believes may be of interest to you. ENTERPRISEStorageFORUM will process your information in accordance with the Quinstreet Privacy Policy.

Thanks for your registration, follow us on our social networks to keep up-to-date