Cloud data management solutions provider NetApp is the latest cloud company to announce layoffs.
The California-headquartered company says it will lay off 960 employees, representing about 8% of its workforce.
- NetApp currently has about 12,000 employees globally and will begin layoffs during Q1 2023.
- The cloud data management company expects to incur $85M to $95M in charges resulting from its job cuts.
- CEO George Kurian attributed the company’s decision to “an increasingly challenging macroeconomic environment, which is driving more conservatism in IT spending.”
- Like other cloud and IT providers, NetApp was banking on the push toward remote work during COVID-19. However, this has dwindled due to a widespread return to in-person working models.
- In 2020, Net App acquired Israel-based cloud operations solutions provider Spot.io for an estimated $450M.