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January 24, 2013

Symantec plans job cuts to streamline operations

The company reveals a new strategy.

By CBR Staff Writer

Security firm, Symantec, is planning to lay off 1,000 jobs as part of its restructuring plans to streamline operations.

Symantec chief executive officer Steve Bennett told Reuters that Janice Chaffin, consumer business president, will leave the company as part of the company’s strategy review completed in January.

"We looked at five different scenarios and modeled them all and talked about them all," Bennett said.

Symantec is focusing on 10 areas that combine existing products and services into new solutions. The overall development process is expected to take six to 24 months.

"Symantec’s strategy is clear. We want to enable people, businesses and countries to focus their energies and time on achieving their aspirations, instead of being consumed with how to keep their digital lives safe and protected," said Bennett.

Symantec said it will increase its investment in research and development, innovation and strategic partnerships to better meet next generation needs.

In November 2012, Symantec announced that one of its group presidents, Rowan Trollope would be leaving the firm.

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