Juniper Networks to Cut 440 Jobs on Pressured Consumers' Budgets
By Sabela Ojea
Juniper Networks is laying off about 440 employees by the end of March after recently having warned of tightened customer budgets for orders and projects due to macroeconomic challenges.
The provider of high-performance networking and cybersecurity products expects to book severance charges of about $40 million and additional restructuring expenses of about $19 million, according to a U.S. Securities and Exchange Commission filing on Thursday.
The company's cost-cutting measures come less than three months after it said it expected "continued weakness in bookings," particularly with its cloud and, to a lesser extent, its service provider customers.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 05, 2023 16:47 ET (20:47 GMT)
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