Another form of hypocrisy: Blue Coat lays off 280 people, or 20% of their workforce, then buys a services company, called S7 Software in Bangalore for $5.25 million. Blue Coat’s SVP and cheif finical officer said today the following:
The combination of the restructuring program and the acquisition of S7 Software strikes an appropriate balance between profitability and investment for innovation. Together these actions will allow us to invest for future growth while aligning the Company’s cost structure to its current revenue level, which should drive higher and more consistent levels of profitability.
In addition to the layoffs, Blue Coat will relocate an undisclosed number of jobs from the United States to India after the purchase.
Via MaximumPC
