Red Hat Reduces Its Workforce By 4%

Red Hat, a software company owned by IBM, has reduced its workforce by 4%. The job cuts are said to have affected mostly the sales and administrative support divisions. The company is reported to have offered severance packages and outplacement assistance to the affected employees. 

"Severance packages will vary depending on the country in which the employees are located and will be in line with local procedures," says Matt Hicks, CEO, Red Hat.

The move comes as Red Hat seeks to realign its resources and focus on growth areas such as hybrid cloud technologies in diverse sectors.