Fort Lauderdale, Florida Cloud computing software company Citrix Systems Inc. has announced plans to eliminate their staff in an effort to spinoff their “GoTo” activity into a new, separate business. Citrix has been known for offering services like Software-as-a-Service and app services including desktop visualization, ShareFile, and Citrix Workspace Cloud with a market value of around $12 billion.
The announcement of the change lowered the company’s shares 3% but the change was a must since they’ve been struggling to compete in the crowded space of cloud-based businesses. The announcement comes with downsizing and letting go 1,000 staff which made up around 10% of the company. CEO Bob Calderoni had suggested that the GoTo services would work best as a separate business in a recent press release.