VMware confirms layoffs and CFO departs after earnings beat
Jan 27, 2016, 02:59 IST
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The news came out in VMware's Q4 2015 earnings report. The company earned $1.26 (adjusted) per share on $1.87 billion in revenue, slightly ahead of analysts' expectations. The stock jumped as much as 4% after hours on the report, but is now trading flat.
The possibility of layoffs was first reported last week, and employees vented about the layoffs on a public message boad earlier this week.
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VMware is a subsidiary of EMC, which Dell is in the process of trying to acquire for $67 billion. European regulators should rule whether to approve the takeover later this month.