Expecting to save between $90 - $100 million per year as a result of job cuts, Citrix has just announced through their restructuring plan that 900 of their employees will be cut in the near future.
Including a total of 700 full-time and 200 contractor positions, Citrix investors are reportedly positive about this decision. As a result, the companies stock has risen as high as $63.27 per share, seeing a 7 percent rise in just 24 hours.
Charles King, principal analyst from Punt-IT has commented that he thinks "Citrix's plans qualify as what might be called defensive layoffs," further explaining that their results beat analyst expectations, "but only barely."
These defensive cuts are reportedly due to recent economic trends that include lower oil prices and a strengthening dollar - seeing numerous vendors make "cautionary statements about business performance, particularly for the latter half of the year," as according to PC World and King.