Dave Raffo quoted: NetApp to lay off 8% of workforce, blames economy

Wednesday, February 1st 2023

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The tech industry has engaged in personnel cuts to reduce overhead costs in the past several weeks, following the outsized revenue highs of the COVID-19 economy.

But it’s still too soon to tell if NetApp is a bellwether for storage vendors, said Dave Raffo, an analyst at Evaluator Group.

“It’s hard to say what NetApp layoffs mean for the big picture in storage,” Raffo said. “We’ll know more in the next few weeks when NetApp, Dell, Pure, VMware and Nutanix report earnings. Maybe NetApp had rough earnings, or maybe they’re trying to be proactive. Some vendors have had poor guidance for this quarter, so companies could be trying to stay ahead of the game.”

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