Citrix lost 4.2% on net income for Q4 as license sales declined. In response to the decrease in its number, Citrix will reduce 10% of its global workforce as a cost cutting measure as the downturn in the economy has hurt the demand for their technology products. The job cut is expected to save the company $50M in employee expenses yearly before taxes.
The first set of Citrix lay-offs were expected today.
Interestingly enough, Microsoft had their first ever round of layoffs last week which impacted 5,000 workers, approximately 5% of the workforce.
Through Tuesday, U.S. companies had announced more than 519,895 job cuts since Nov. 1, according to Bloomberg data.
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Posted by: sayen | February 02, 2009 at 08:32 PM
I cannot confirm if Sean's financial numbers are accurate for Citrix Online but found it worth posting.
It should also be noted that every other news release that mentioned the same Citrix lay-off did not go into details if the lay-offs effected specific divisions or product lines like Citrix Online, Application virtualization, Application networking, Desktop virtualization, Server virtualization, or Application performance monitoring.
The lay-offs were across the Citrix global workforce.
Posted by: David Chao | February 01, 2009 at 08:12 PM
come on man you are telling half the story...the web conf portion of the company was the one bright spot which grew from $214M to $260M year over year. Telling half the story is being half truthful.
And no I don't work for Citrix
Posted by: Sean Spradling | January 29, 2009 at 09:31 PM