New Delhi, Aug 11 : Cloud virtualisation provider Nutanix has announced plans to eliminate 270 employees, which amounts to 4 percent of its workforce worldwide.The company explained that the decision was taken after a review of its business structure and following other measures to cut costs and reduce costs.
“The reduction in headcount is part of Nutanix’s ongoing efforts to accelerate profitable growth.The company anticipates completing nearly all of the reduction in headcount by the close of the quarter that ends the 31st of October, 2022.” Nutanix said a filing with the US Securities and Exchange Commission (SEC).
Due to the impact of the reduction in headcount the company estimates that it will be able to incur an expense before tax in the range of $20 millions to $25 million during the fiscal quarter that ends on October 31, comprised of one-time severance payments and other cost for termination benefits.
Nutanix will reveal its complete 2022 results when US markets have closed on August 31.
In the year 2000 enterprise software company VMware filed an action against its Chief Operating Officer Ramaswami following the fact that its rival Nutanix appointed him as the CEO and President.
VMware The company alleged that Ramaswami violated his legal and contractual obligations as well as obligations to the firm.
Nutanix had criticized VMware’s move as “nothing other than an unsubstantiated attempt to hurt a rival and we will be adamant in defending this matter in the courts.”
VMware asserted that Ramaswami failed to honor his contractual and fiduciary obligations for the business.
In May of this year the chip and software manufacturer Broadcom announced that it would acquire VMware in the form of a cash-and-stock transaction that is worth $61 billion.
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