Nutanix, a leader in cloud virtualization, announces layoffs of 270 employees, representing 4 percent of its global workforce.
Nutanix is cutting jobs after reviewing its business structure and taking other cost-cutting measures to reduce spending.
Nutanix reported revenue of $403 million (+17%) with a gross margin of 80.2% for the third quarter ended April 30, 2022.
Nutanix expects fiscal 2022 revenue of $1.535 billion to $1.555 billion with a margin of 82 percent. Nutanix will report its full 2022 results on August 31st.
“The downsizing is part of the company’s ongoing efforts to drive profitable growth. The Company anticipates that the downsizing will be substantially complete by the end of the fiscal quarter ended October 31, 2022,” Nutanix said in a filing with the U.S. Securities and Exchange Commission (SEC).
Nutanix estimates he will incur a pre-tax charge on the order of $20 million…