Irvine-based Ingram Micro Corp. (NYSE: INGM), the world’s largest distributor of computers and other technology, said it is undertaking a series of restructuring initiatives that will reduce its headcount by approximately 850 employees, or 3.5%, by the end of the first quarter.
“These changes aim to enhance organizational efficiency and strengthen customer service capabilities to better position the company for long-term, sustainable growth,” the company said in a statement.
The company, which has reported declining sales in the past two years, employs 24,000 worldwide. It has been restructuring for the past year, including laying off 503 in the first quarter.
The company, which has reported declining sales in the past two years, employs 24,000 worldwide. It has been restructuring for the past year, including laying off 503 in the first quarter.
The company on Nov. 12 reported third-quarter sales fell 1.4% to $11.8 billion.
Since the company went public at $22 a share on Oct. 24, they have risen 5.5% to $23.31 and a $5.5 billion market cap. After the layoff announcement, the shares were unchanged.