Jayujyoti Mullick reports:
Rackspace Technology is cutting approximately 750 jobs, or about 15% of its global workforce, as the cloud computing company shifts resources toward enterprise artificial intelligence, a move that comes less than a year after CEO Gajen Kandiah took over the company.
The workforce reduction, approved by Rackspace’s executive committee on June 10, is expected to generate annual savings of between $75 million and $85 million once fully implemented. The company said the savings will be reinvested into AI-focused growth areas, including enterprise AI infrastructure, engineering teams and AI solutions delivery.
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