AAPL Stock: 118.88 ( + 1.13 )

Printed from

Symantec reorganization speeds up, nearly 1,800 jobs lost

updated 06:49 pm EDT, Thu June 13, 2013

Laid off employees notified earlier this week

According to sources familiar with the matter, computing security firm Symantec is in the process of laying off as many as 1,700 employees, starting today. The cuts, announced in January, are part of new CEO Steve Bennett's plan to resuscitate the fallen finances of the company. The losses reflect about eight percent of the company's 21,500 positions worldwide. Symantec spokeswoman Ellen Hayes said in a statement that "Symantec is in the midst of a company-wide transformation. As part of this effort, we are engaged in a company-wide reorganization."

"As a result, some positions are being eliminated," Hayes continued. "This action is a reflection of our new strategy and organizational simplification initiative announced by Symantec's executives on January 23, 2013. One of the goals of Symantec's reorganizational effort is to make the company's employee reporting structure more efficient and support the company strategy moving forward."

"There are several stages to the reorganization process, as we define executive and management layers down to all levels of employees. Some notifications are happening this month, as part of this the process. We are communicating with employees directly and do not have more information to share at this time," the statement concludes.

The company is expected to take a one-time charge of up to $240 million as a result of the reorganization. The employee paring is expected to be completed by the end of this fiscal year for the company, which began March 30. Up to today's layoffs, the company has taken only $10 million of these charges against the bottom line, implying that there are deeper cuts to come.

by MacNN Staff




  1. coffeetime

    Senior User

    Joined: 11-15-06

    MS Security Essential (free) made a huge dent on these guys.

  1. bobolicious

    Dedicated MacNNer

    Joined: 08-15-02

    ...the writing was on the wall when ACT! for Mac was orphaned without an exit / export option for the multitude of powertalk and mac users dependent on Symantec software for their mission critical contact data... Other prominent corporate myopic self interests might want to take note...

Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented