California-based NetApp to cut 900 in global restructuring
California-based NetApp is cutting about 900 employees from its global workforce, the company announced Tuesday as part of the release of its fourth-quarter financial results.
The company, a provider of storage and data management technology, had 12,149 employees globally as of April of last year, according to its annual report.
The company employed about 1,400 people in the Research Triangle Park as of last year, according to a news release from Gov. Beverly Perdue’s office announcing a planned expansion at the company’s site here.
As part of the expansion, the company planned to create 460 new jobs across four years and to invest more than $75 million here. The project was tied to a state performance-based grant.
In the fourth quarter of fiscal year 2013, the company reported that its net income was down by about $7 million to approximately $174 million compared to the same quarter a year prior.
Its revenues, at $1.717 billion in the quarter, were up in the quarter year-over-year. For the first quarter of fiscal year 2014, the company expects revenues to be between $1.475 billion and $1.575 billion.
The company’s stock price closed on the Nasdaq at $36.63 Tuesday, down from an opening price of $37.15.