Rumor is Symantec division gets hammered after the holidays.
Can anybody confirm if this is true?
8 replies (most recent on top)
Apparently, layoffs in Symantec Endpoint Division and Network Information are happening already.
Interesting that the revenue has declined so much - customer revolt I suppose. Do we have any evidence.
Symantec is going to take a beating after the holidays. SED revenue decayed more than expected so they'll need to cut cost to hit their ROI targets. Expect support to take it hard.
if not a layoff, then maybe a divestment. pretty much most of ES is still being actively shopped around...
only thing is that it's clear there's no biggie on the table...and THAT... is going to put significant cost pressures on divisions, if not 2H22, then guaranteed fy23.... hold onto your hats it's gonna be a weird ride as 2022 unfolds...
Bonuses and stock RSUs are coming, so I second that statement above. Natural attrition should save those who like collecting their quarterly RSUs
Layoff season is usually in October. ES was way above the line so they should be okay.
January is not the usual time for Rifs. Why the Symantec division especially and why then? More likely are significant resignations after the bonus is collected and the holiday season is over.
If it's true, does anybody have more details?