https://www.sec.gov/ix?doc=/Archives/edgar/data/0001002047/000119312523019739/d395436d8k.htm
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This is all about differing laws by country. Nothing more to see here...
There are consultation laws and layoff laws that differ all over the world. It couldn't be one scoop across the board on a single day due to this. Some can countries require 30-60 days notice for a layoff.
They gave themselves all year to offload their magic number of 8%. Nice.
I think the SEC filing is talking about the layoffs that already have happened. So, I dont anticipate more layoffs.
God is in control. Not man. If God wants you at Wells, you'll be there. Nothing can thwart his will for your lives. Remember that and if you don't know the Lord God as your savior; if you're not "born again", I implore you to get on your knees and humble yourself before God of the Universe. Ask him to remove all sin from you and ask him to forgive you of all sin. Ask him to be an integral part of your life and ask him to walk with you through this life and he will. John 3:16 - "For God so loved the world, that he gave his only begotten son (God in the flesh), that whosoever (you, me, your boss, whomever), believes in him (Jesus, that he is God in the flesh who came to earth to die in your stead for yours and my sins past, present, future), shall not perish (die forever and end up in he-l), but have everlasting life (in heaven forever with him and all the other saints who died in Christ before you and I)." It's that simple folks. Then, go and show you are a Christian by LIVING out your salvation. Remember if you're in Christ, man can't do anything outside of his will for your life. So, if you're in Christ (and I hope you are), there's nothing that anyone can do, person, or organization, or country, can do to you unless he allows it and if he does, he has a good purpose for it).
from the SEC filing, most layoffs expected to be completed by the end of fiscal Q4 2023 (April 28, 2023), 8% of the workforce is ~850 people
On January 31, 2023, NetApp, Inc. (the “Company”) announced a plan to restructure and reduce the Company’s workforce as a part of its planned efforts to realign resources to prioritize investments against its biggest opportunities in light of the macroeconomic challenges and reduced spending environment that continue to impact the Company. In connection with these actions, the Company expects to reduce its worldwide headcount by approximately 8%. The reduction in workforce is expected to be substantially implemented through the end of the fourth quarter of fiscal 2023.
The Company expects to incur aggregate charges of approximately $85 to $95 million consisting primarily of employee severance and benefit costs associated with the restructuring. The Company expects that most of these charges will be cash expenditures and that it will recognize the majority of these charges in the third quarter of fiscal 2023.
It is a clever way for NetApp to inform the SEC once about layoffs that can occur throughout the entire year.
NetApp has been in constant reorg for years but the bit % hit is today. The EMEA and APAC varies by country so expect them to continue under that but if they are going to do the WARN act, they do it all at once....
Doesn't that just take into account the required time for non-3rd world countries like India to provide notice to people?