|
Symantec Africa Boss Resigns Amid Cuts
Johannesburg, Jan 12, 2009 (Business Day/All Africa Global Media via COMTEX) --
WORLDWIDE job losses at technology security company Symantec are taking a toll locally, with its regional director for Africa, Patrick Evans, among those on the way out.
The company has confirmed the departure of Evans, who was not axed but whose resignation "to pursue personal interests" coincides with the cuts.
Evans could not be reached for comment. His post will be filled by Symantec's regional director for the Middle East and north Africa, Kevin Isaac.
Isaac will assume "interim responsibility" for Symantec's operations in Africa, but the company did not confirm whether it was seeking a new permanent regional director.
Also on his way out is John Thompson, the overall CEO of the California-based company. Thompson is due to resign early this year after saying that 10 years in command was long enough. He will be replaced by the current chief operating officer, Enrique Salem, from April this year.
Although Thompson has built the company up substantially over the decade to hit an annual revenue topping $6bn, job losses are nothing new. This latest round was confirmed last October when Thompson said significant job cuts would be imposed to slash its head-count budget by 4,5%.
The company declined to specify a number, but with 17783 employees, the effect is proving substantial.
Locally, ITWeb reports that five employees are being retrenched, and says sources believe further losses are imminent. The head count at Symantec SA is 60.
"To align costs with revenue expectations, Symantec will initiate a global workforce reduction to yield a 4,5% cost savings for the company in light of the current worldwide economic downturn," the company said. "While the fundamentals of the company are strong and its business strategy sound, the workforce reductions are intended to maintain operational flexibility.
"Global economic conditions are impacting our ability to predict customer behaviour in the coming months, so the company is taking these actions to maintain flexibility during this challenging period."
Employees hit by the global cutback will be told within the next month and will receive a full severance package including job placement services.
Symantec provides security, storage and systems management services, and says its software backs up half the world's data. Its Norton antivirus software is widely known and used.
During a presentation to analysts last year, Salem said: "If you look at the numbers, we definitely have room for improvement on our go-to-market expense structure, and you'll see us, both in fiscal year '09 and fiscal year '10, continue to drive those improvements."
[ Back To TMCnet.com's Homepage ]
|
INDUSTRIES
Activate Email 
Find Solutions for Enterprises, SMBs & Service Providers at the INTERNET TELEPHONY Conference and EXPO East, January 20-22, 2010. Miami, FL.
