---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-019739"
form_type: "8-K"
ticker: "NTAP"
cik: "0001002047"
company_name: "NetApp, Inc."
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T04:40:51.565582+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NetApp to cut ~8% of workforce; expects $85-95M in restructuring charges

## Summary
- Workforce reduction of ~8% globally, substantially implemented by Q4 FY2023.
- Expects aggregate charges of $85M to $95M, primarily severance and benefits.
- Majority of charges expected to be cash expenditures in Q3 fiscal 2023.
- CEO George Kurian cites macroeconomic challenges and reduced IT spending.
- Realignment aims to sharpen strategy and prioritize growth opportunities.

## SEC filing metadata
- accession: 0001193125-23-019739
- form_type: 8-K
- ticker: NTAP
- cik: 0001002047
- company_name: NetApp, Inc.
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1002047/000119312523019739/0001193125-23-019739-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1002047/000119312523019739/d395436d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-019739
- JSON: https://secwatch.observer/filing/0001193125-23-019739.json
- Plain text: https://secwatch.observer/filing/0001193125-23-019739.txt

## Key facts
- Restructurings & Charges
  NetApp, Inc. announced a restructuring with charges of approximately $85 to $95 million (approximately 8%).
  - Type: restructuring
  - Charge: approximately $85 to $95 million
  - Headcount: approximately 8%
  source text: in workforce is expected to be substantially implemented through the end of the fourth quarter of fiscal 2023. The Company expects to incur aggregate charges of approximately $85 to $95 million consisting primarily of employee severance and benefit costs associated with the restructuring. The Company expects that most of these charges will be cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1002047/000119312523019739/0001193125-23-019739-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.