The Latest in IT Security

Emulex to cut 10 percent of workforce, close plant


(Reuters) – Network equipment maker Emulex Corp said it would cut 110 jobs, or 10 percent of its workforce, and close an engineering facility as part of a restructuring program initiated last month under pressure from shareholders. Emulex said it expects to incur pretax charges of $9 million-$10 million related to the job cuts, mainly in the second quarter ending December 29. Activist hedge fund Starboard Value LP said in September Emulex was “extremely undervalued”. Broadcom Corp offered to buy Emulex in 2009 for about $764 million in a bid that resulted in Emulex shareholders and Broadcom suing Emulex.

Comments are closed.


SUNDAY, MAY 31, 2020

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...



Latest Comments