Juniper Networks to lay off 440 workers as part of $59M restructuring plan
Juniper Networks today said it is laying off 440 workers amidst a $59 million restructuring plan.
The restructuring strategy is the result of a review of the company’s business objectives, and it is intended to focus on realigning resources and investments in long-term growth opportunities, the networking vendor wrote in an SEC 8K filing.
“The company believes the plan will further allow it to continue to prudently manage operating expenses in order to deliver improved operating margin,” Juniper wrote. “Total costs currently estimated to be incurred in connection with the Plan are approximately $59 million, of which approximately $48 million are expected to result in cash expenditures.”