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NetApp to Cut Work Force by 8% Amid More Conservative IT Spending

NetApp will lay off about 8% of its work force.

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announced a round of layoffs on Tuesday, joining other tech companies across the globe that are working to reduce costs.

The data-sharing software company announced in a filing with the Securities and Exchange Commission on Tuesday that it expects to reduce its worldwide headcount by about 8%.
(ticker: NTAP) previously said in a separate filing that it employed about 12,000 people.

“Companies are facing an increasingly challenging macroeconomic environment, which is driving more conservatism in IT spending. We are not immune to these challenges,” NetApp Chief Executive George Kurian wrote in an email to employees.

The company anticipate these job cuts will incur total charges of around $85 million to $95 million, consisting primarily of employee severance and benefit costs.

Tech companies have been announcing layoffs throughout the beginning of 2023. In fact, more than 75,000 tech employees have lost their jobs this year, according to
(SPOT), Google parent
(AMZN), and
(CRM), have been among some of the largest tech names to also announce plans to cut their work forces this month.

Shares of NetApp were up 0.6% in premarket trading Tuesday to $65.89.

Write to Angela Palumbo at


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