Symantec storage revenue down; job cuts ahead
With sales of its storage software dropping, Symantec Corp. plans to lay off some of its staff as part of an effort to cut $200 million in expenses.
The cuts were announced yesterday as Symantec posted financial results that fell short of expectations. Symantec reported earnings of 12 cents per share on $1.31 billion in revenue for its third quarter of fiscal 2007, which ended Dec. 29. The software vendor had previously said that it expected earnings per share of 14 cents or 15 cents and revenue as high as $1.35 billion.
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