Nutanix Inc. is reportedly laying off about 4% of its workforce, or about 270 employees, as part of a cost-cutting initiative.
The information reported the move on Thursday.
Nutanix, which sells software for managing IT infrastructure, announced the layoffs in a filing with the US Securities and Exchange Commission. The company expects the workforce reduction initiative to be completed by October 31. Nutanix estimates the move will result in a pre-tax charge of $20 million to $25 million.
The company said in the SEC filing that the layoffs came “after reviewing its business structure and taking other cost-cutting measures to reduce spending.” Nutanix added that “the downsizing is part of the company’s ongoing efforts to target profitable growth.”
Based in San Jose, California, Nutanix delivers software that companies use to manage their public cloud and on-premises infrastructure. The company is…