NTAP NetApp Inc

Item 2.05 Costs Associated with Exit or Disposal Activities

On October 30, 2016, NetApp, Inc. (the “Company”) committed to a restructuring and reduction in workforce as a part of its planned transformation efforts to streamline its core business and reduce operating expenses. In connection with these actions, the Company expects to reduce its worldwide headcount by approximately 6%. The reduction in workforce will be implemented through the end of the fourth quarter of fiscal 2017.

The Company expects to incur aggregate charges of approximately $50 to $60 million for employee terminations and other costs associated with the restructuring. The Company expects that most of these charges will be cash expenditures and that it will recognize the majority of these charges in the third quarter of fiscal 2017.

This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include expectations regarding the restructuring and reduction in workforce, the number of employees impacted by the reduction in workforce, the aggregate charges for employee terminations and other costs associated with the restructuring, the related cash expenditures and the timing to recognize these charges. All of these forward-looking statements involve risk and uncertainty. Actual results may differ materially from these statements for a variety of reasons, including, without limitation, the timing and execution of the restructuring. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the sections titled “Risk Factors” in our most recently submitted Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively. We disclaim any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.