January 28, 2009

Citrix Systems 4Q Net Down 4.2%; Cuts 10% Of Work Force

According to CNNMoney: “Citrix Systems Inc. (CTXS) posted a 4.2% decrease in fourth-quarter net income as product-license sales fell, and the company said it would reduce about 10% of its global work force as it consolidates its facilities.”

“The provider of virtualization software, which improves computer efficiency by allowing multiple systems to operate on one computer, has cut costs recently but, until the job cuts on Wednesday, Citrix said it would continue to add employees and wouldn’t delay expansion.”

Update 1 (1-29-2009): According to rumors and leaks from inside, the first wave of layoffs at Citrix to start today: “[…] We will begin employee notifications on Thursday, January 29. ┬áIn the US, we will finish on Friday the 30th, with international notifications being completed as soon as practical, in compliance with local regulations […]”

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