Brocade Communications Systems
on Thursday said it will cut 115 jobs, or about 9% of its workforce, as part of an ongoing restructuring.
The company, which makes hardware for enterprise storage networks, will take a charge in the second quarter. It will explain the charge when it reports fiscal second-quarter financial results in May. Brocade cut about 12% of its workforce in the first quarter, a move that resulted in a $10.1 million charge.
At the end of the March quarter, Brocade said the fiscal second quarter ending in April was on track for revenue of $128 million to $133 million, an increase of 4% to 8% from first-quarter levels.
In after-hours trading, Brocade was off 6 cents a share, or 1.2%, to $5.10, after gaining 2 cents a share during the regular session.