VMware Is Cutting Around 900 Jobs
VMware is a cloud and virtualization software company that is planning to eliminate around 900 jobs as part of an effort to save between $90 and $110 million according to a filing with the SEC. The company is planning to exit “certain business lines” by the end of 2013.
The company recently reported a 22% increase in revenue to $1.29 billion and earnings of 81 cents per share for Q4 2012. VMware ended 2012 with $4.63 billion in cash on hand.
VMware brought in $4.61 billion in 2012, which is an increase of 22% from the previous year. In the U.S., the company’s annual revenues grew 22% to $2.23 billion for 2012. Its annual international revenues also grew by 22 percent, to $2.38 billion.