NetApp will lay off 12% of employees, nearly 1,500 people, by July 2016

February 17, 2016 10:12 PM

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Enterprise storage hardware vendor NetApp (NTAP) today announced a new round of layoffs that will reduce its workforce by 12 percent. As of late October NetApp had around 12,300 employees, so the cuts could hit nearly 1,500 employees.

The cuts will result in $60-70 million in extra expenditures, and they should be complete by July 2016, according to a regulatory filing the company released today in association with its quarterly earnings statement.

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