Menu
EXCLUSIVE: Redundancies rumoured as Symantec slams door shut on NZ

EXCLUSIVE: Redundancies rumoured as Symantec slams door shut on NZ

Following its widely reported split, global security vendor is expected to close down its New Zealand operations by the end of this coming quarter…

Symantec will exit New Zealand on March 31, as the global security vendor continues to realign its business following its well-documented plans to split the organisation in half.

That's according to sources close to Reseller News, revealing that the company will “only have direct representation” in countries which meet a certain monetary threshold, with New Zealand failing to meet the required criteria.

As a result, the security giant is widely expected to close its Auckland office at the end of the quarter, on March 31, with “staff currently working through New Zealand redundancy policies” as it relocates all Kiwi business operations to its Sydney office in Australia.

Yet despite the rising speculation that an exit plan is underway, the company, when quizzed for comment, told Reseller News that “as part of Symantec’s plan to separate into two companies, we are carefully reviewing our enterprise business strategy in New Zealand.”

“As part of this review, we are considering the needs of our customers and partners as well as the organisational needs of Symantec and Veritas going forward,” a spokesperson told Reseller News via an emailed statement.

“We are currently in the process of consulting with our staff in New Zealand and are focused on ensuring we can continue to fulfil the needs of our customers in this market.”

According to the New Zealand Companies Office, Symantec New Zealand, which entered the country in April 1998, reported annual revenue of $4.5m during the 52 week period ended 28 March 2014, down from the $5.1m posted during the same period the year period.

Furthermore, the company reported net profit of $360k during the 52 week period ended 28 March 2014, down from $402K year-on-year.

Symantec’s rumoured New Zealand exit follows the resignation of Australia and New Zealand managing director, Brenton Smith, who quit his post after more than two years in the role in January, to pursue other interests.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags symantec

Featured

Slideshows

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

The leading female front runners of the New Zealand ICT industry joined together for the annual Reseller News Women in ICT Awards event at the Hilton in Auckland, during which hundreds of guests celebrated 13 outstanding individuals who won awards, chosen from more than 50 finalists representing over 30 organisations.

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards
Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Show Comments