Adaptec will take a restructuring charge of about $10 million in the current quarter as part of an effort to trim operating expenses by more than $7 million per quarter, the company said Friday. "IT investments are down industrywide, and this trend is expected to continue over the next several months," Adaptec CEO Bob Stephens said in a statement. "We are taking the steps we feel are necessary to scale our costs to match the current business environment."
Adaptec said it will announce details of the restructuring plan before the end of the quarter. Adaptec makes cards that plug into powerful computers and speed the transfer of data to and from devices such as disk drives, scanners and CD-ROM drives.
Discuss: Adaptec to take restructuring charge
Be respectful, keep it clean and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.