Date:25/01/13

Symantec could cut 1,000 jobs

Symantec plans to cut over 1,000 jobs as part of a shake-up at the Californian anti-virus software firm, reports suggest, the Computing reported. The firm, which yesterday released rather positive trading results, announced a streamlined corporate strategy that raised the possibility of changes.

"Symantec's strategy is clear: We want to enable people, businesses and countries to focus their energies and time on achieving their aspirations, instead of being consumed with how to keep their digital lives safe and protected," said Steve Bennett, Symantec president and chief executive officer. "This is a story about more focus and better execution by Symantec to make things better and easier for our customers and partners.

Our path is straightforward: Offer better products and services tailor made for customers, and make it easier for them to research, shop, buy, use, and get the help and support they need." While Bennett makes no specific mention of job losses, Bloomberg reports that over 1,000 jobs may be cut, representing a reduction of about five per cent of staff.

However, Bloomberg's source said Symantec will continue to hire new employees in other areas such as research and development. It's possible the firm is looking at expanding its cloud and mobile operations.

Indeed, Bennett replaced former CEO Enrique Salem in July last year following concerns about the latter's approach to adapting to a changing anti-virus market. Shares in Symantec have risen by over 40 per cent since Bennett's appointment. Their value rose by three per cent following the anti-virus software provider's financial results.

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