Ingram Micro plans to cut 850 jobs to improve efficiency, despite stock gains post-IPO.

Ingram Micro, a major technology distributor, plans to cut about 850 jobs, or 3.5% of its workforce, by the end of next quarter to improve efficiency and customer service. The company, based in Irvine, California, aims to better position itself for long-term growth. Despite the layoffs, Ingram Micro's stock has risen 5.5% since its public debut, reaching a market cap of $5.5 billion.

4 months ago
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