Security behemoth Symantec Corp has announced a new company strategy that will bring “a reduction of the workforce.”
The creator of the ubiquitous Norton AntiVirus is set to embark on a restructuring process "that will streamline and simplify the company so it can deliver significantly improved performance for customers and partners.”
The new strategy comes on the back of a strong fiscal report from Symantec, with third quarter revenues hitting $1.79 billion (£1.13 billion) - a four per cent year-on-year increase.
Explaining the re-organisation, a company statement read, “In order to make the company more flexible and able to adapt quicker to the needs of customers, more emphasis will be placed on giving front-line employees greater empowerment, input and discretion in addressing customers’ needs on a day to day basis. As such, there will be fewer executives and middle management positions, resulting in a reduction of the workforce. This process is expected to be completed by the end of June 2013.”
Symantec has not divulged the number of employees that will be cut, but a source familiar to the matter told Bloomberg that it could be as many as 1,000. The person did not want to be identified as the details are not due to be made public.