Job cuts at Novell
Novell has announced plans to shave $110 million off its annual expenses, resulting in the loss of 600 jobs, more than 10% of Novell's worldwide workforce.
announced yesterday that it will concentrate its business on key growth opportunities in the Linux and Open Source and Identity and Resource Management markets, resulting in a restructuring of the business that will reduce annual run rate expenses by more than $110 million.
Novell anticipates that it will record a restructuring charge in the range of $30-35 million in the fourth fiscal quarter ended October 31, 2005.
The full effect of the cost reductions is expected to be realised in the first fiscal quarter ending January 31, 2006. When completed in the first fiscal quarter 2006, the cost restructuring is expected to result in approximately 600 job losses, more than 10% of Novell's worldwide workforce.
Jack Messman, Novell's chairman and CEO, said, "While it is a difficult decision to eliminate positions in our talented and dedicated workforce, this move is necessary to ensure that our costs are more closely aligned with our business strategy.”
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