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Citrix axes 10% of global staff as profits fall

Citrix is axing around 10% of its staff in response to falling profits. Citrix says ...

Citrix is axing around 10% of its staff in response to falling profits.

Citrix says the headcount reduction will result in annual pre-tax savings of around $50m. It expects to incur a pre-tax charge of up to $23m on the cost of the redundancies.

The infrastructure software firm saw fourth-quarter profits fall to $60m from the $63m posted for the same quarter last year.

Sales increased to $415.7m from $399.6m. The jobs cull at Citrix illustrates how bad the recession is, considering application accelleration, network optimisation, virtualisation and thin-client computing - all Citrix markets - are technology growth areas.

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