NetApp Layoffs
January 2023
NetApp announced a layoff affecting 960 employees (8% of its workforce) in January 2023. The company operates in the Data sector.
960
8%
Jan 31, 2023
About
NetApp, a data storage and management company, announced layoffs affecting approximately 8% of its global workforce in late January 2023. This reduction translates to around 960 employees out of a total of about 12,000. CEO George Kurian attributed the decision to a challenging macroeconomic environment that has led to more conservative IT spending by customers, necessitating cost structure adjustments. The layoffs, part of a broader trend across the tech industry, are expected to be completed by the close of NetApp's fiscal 2023. Despite reporting increased revenue and profit in its previous fiscal year, the company is realigning to focus on areas with the best commercial returns. The storage industry, unlike some tech sectors, did not experience the same rapid pandemic growth and now faces a reckoning amid economic pressures.
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