Talked to a SVP. Layoffs were planned summer of 2020 but then the US Government promised relief for companies like NA to give them free loans to pay company salaries. NA received missions in funds and gave 22 million in relief in exchange for tax credits.
Now that COVID funding is gone NA must now cut staff to keep the stock > $60.
Despite being Non-Innovative they are still the backbone for major companies storage solution despite claiming to want to move away from on-premise storage solutions.
NA still generates Billions in revenue and will continue to do so even after the bloat has disappeared.