Juniper‘s layoffs have arrived, in numbers less than anticipated: 6 percent of the workforce, or about 570 people, as the company revealed this afternoon.
That’s down from the 800 that SDxCentral had been hearing in March, but still a pretty sizable cut.
The moves are part of the restructuring announced in February by new CEO Shaygan Kheradpir, and they’re also in line with demands put on Juniper by activist hedge funds Elliott Management and Jana Partners. (In what’s probably a coincidence, Elliot is also on Riverbed’s case.)
Juniper didn’t specify which parts of the company might be hardest hit by the layoffs.
As for the ADC announcement, it means Juniper is joining Cisco in ceding that market to the specialists such as F5 and Citrix. Juniper tried a couple of ADC acquisitions in the mid-2000s that didn’t work out, then licensed Riverbed’s technology with the intention of integrating it into Juniper products.
The moves will dig into the earnings from Juniper’s first quarter, which ended in March. Juniper will take charges of about $35 million related to the layoffs. Another $95 million in non-cash charges will come off the balance sheet, $85 million of it related to ending the Riverbed partnership and another $10 million in asset writedowns.
Juniper also said it expects to incur $20 million in additional restructuring charges later in 2014.