According to a company spokesperson, the layoffs wave will splash across Symantec’s global business, and employees in the IT and finance departments are the most exposed.
The affected staff can expect to receive the dreaded letter this month, as Symantec plans to outsource part of the work done in these departments.
Symantec failed to meet the analysts expectations for the quarter ending on October 3. The company’s revenue only went up to $1.52 billion, while mostly everyone expected to see an announcement featuring at least $1.54 billion.
Furthermore, Symantec is not looking at a very bright future at present time. The announcement caused shares to drop from $15 to $12.20 and there’s no guarantee that the trend will suddenly change in the near future.