Citrix downgraded to Hold from Buy at Needham Needham downgraded Citrix Systems citing the company's weak outlook and lack of growth in its desktop business. Note shares were also downgraded this morning at Citigroup.
Citrix reports restructuring program affecting 700 f/t, 200 p/t workers Citrix announced the implementation of a restructuring program designed to increase strategic focus and operational efficiency. The restructuring will affect approximately 700 full-time and 200 contractor positions, and is expected to result in annualized pre-tax savings in the range of approximately $90M-$100M. Citrix expects to incur pre-tax charges in the range of approximately $40M-$45M related to employee severance arrangements and $9M-$10M related to the consolidation of leased facilities during FY15.