Novell Announces Restructuring to More Closely Align Expenses with Core Business Strategy
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WALTHAM, Mass. – Novell (NASDAQ:NOVL) has said that it will concentrate its business on key growth opportunities in the Linux and Open Source and Identity and Resource Management markets, resulting in a restructuring of the business that will reduce annual run rate expenses by more than $110 million. Novell anticipates that it will record a restructuring charge in the range of $30-35 million in the fourth fiscal quarter ended Oct. 31, 2005.
The full effect of the cost reductions is expected to be realized in the first fiscal quarter ending Jan. 31, 2006. When completed in the first fiscal quarter 2006, the cost restructuring is expected to result in a total headcount reduction of approximately 600 positions, more than 10% of Novell’s worldwide workforce.
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