Citrix Systems, Inc.CTXS has announced a restructuring program in a bid to expedite the transformation to a cloud-based subscription business, increase strategic focus as well as improve operational efficiency.
The program will witness removal of some full-time positions and consolidation of facilities.. However, layoffs outside the United States will be subject to local law and consultation requirements.
The company expects to incur around $60-$100 million pre-tax restructuring charges from the program. The same is inclusive of roughly $55-$70 million related to employee severance costs and around $5-$30 million, associated with consolidation of leased facilities and other expenses pertaining to the plan….
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