Multi-cloud technology services provider Rackspace Technology this week unveiled restructuring that will result in the laying off of about 10 percent of the companys US workforce.
Rackspace said it is investing between US$65 million and US$70 million to re-align resources towards fast-growing product and services offerings, including towards cloud services focused on such initiatives as cloud migration, elastic engineering, cloud-native application development, artificial intelligence, machine learning, and security services.
However, the company said in a Thursday regulatory filing, about 10 percent of its workforce are expected to be laid off, with about 85 percent of those roles slated to be replaced via Rackspaces offshore service c…
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