Tech company NetApp will slash 600 jobs worldwide in a business realignment plan, according to a form filed with the United States Securities and Exchange Commission.
The 8-K form was filed on Wednesday and stated that the realignment plan is "designed to focus its resources on key strategic initiatives and streamline its business in light of the constrained IT spending environment."
The realignment plan is expected to be executed through the end of the first quarter of the 2015 fiscal year, according to the filing.
The filing also shows that NetApp expects to spend $35 to $45 million for employee terminations and other costs.
The company released a statement on the job cuts Thursday afternoon. It reads in part, "Amidst a challenging and constrained ITspending environment, we have made the difficult decision to reduce our globalworkforce by approximately 600 employees."
The statement did not give specifics on what impact, if any, it would have on the company's Morrisville office.
They told WNCN's Steve Sbraccia that "NetApp has had a long and successful presence in RTP, and ourcommitment to this region and to attracting and hiring the industry's mosttalented individuals remains unchanged," and that they would answer no further questions.
The company has 10 offices worldwide and employs 12,680 people.
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