Rackspace cuts 10% of workforce, reinvests $65-70M, raises Q2 guidance

Rackspace Technology, Inc.

Restructuring: ~10% workforce cut (85% backfilled offshore); $70-80M pre-tax charges over 12-24 months.
Expects $95-100M gross annual savings; $65-70M reinvested in cloud growth areas like AI and security.
COO Subroto Mukerji transitions to President – Americas; CFO Amar Maletira becomes principal operating officer.
Q2 revenue guidance raised to $741-744M; Non-GAAP EPS $0.22-0.24 (above prior $0.21-0.23); bookings $258M (+6% QoQ).

item 2.02 item 2.05 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Subroto Mukerji

President – Americas Region

RXT · Rackspace Technology, Inc.

Effective: 2021-08-01
Filed: July 22, 2021, 7:59 PM ET

On July 22, 2021, the Company announced that Mr. Subroto Mukerji, the Company’s current Chief Operating Officer, has agreed to transition from his current role of Chief Operating Officer to the role of President – Americas Region, effective as of August 1, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Subroto Mukerji changed role as President – Americas Region at Rackspace Technology, Inc..

Action: transition
Role: President – Americas Region

Exact text from the filing

On July 22, 2021, the Company announced that Mr. Subroto Mukerji, the Company’s current Chief Operating Officer, has agreed to transition from his current role of Chief Operating Officer to the role of President – Americas Region, effective as of August 1, 2021.

View on SEC.gov

Rackspace Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001810019-21-000124

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.