By Elinor Mills
October 30, 2008
Symantec will lay off an undetermined number of workers before the end
of the year as part of a cost-cutting move in the economic downturn, a
company spokesman said on Thursday.
The company, which gave guidance on Wednesday that was short of analyst
expectations, plans a 4.5 percent cost savings in its workforce budget
and will reduce the headcount enough to accomplish that, said spokesman
Paden said he did not know how many employees would be laid off as a
result, but said the layoffs will be global, will vary across
geographies, and that no specific business units were being targeted.
"We are shooting for a specific (cost savings) figure. So whatever gets
us to that figure" will be done, he said. The goal is to maintain
soundness of Symantec's financials "given how unpredictable the economic
environment is right now."
Symantec will start alerting employees within the next month, according
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