NetScout sees VSP resulting in net reduction of approximately 150 employees

NetScout recently initiated a Voluntary Separation Program or VSP as part of its restructuring efforts for fiscal year 2025. The VSP is expected to result in a net reduction of approximately 150 employees, which represents approximately 6.5% of its workforce as of March 31… In conjunction with the VSP, the Company recorded a restructuring charge of $16.6M in the first quarter and expects to record an additional restructuring charge in the range of $3 M to $5M in the second quarter of fiscal year 2025 primarily for severance costs associated with the implementation of the VSP. The Company expects that these actions will generate net annual run-rate savings of approximately $25M to $2M, of which $18M to $19M will be realized in the remainder of fiscal year 2025. The charges are factored into NETSCOUT’s GAAP guidance provided above, and anticipated partial-year net benefits for fiscal year 2025 are included in both GAAP and non-GAAP expectations.