“We’re still in the early days of these changes, so it will take time for progress to be reflected in our financial results,” CEO Amar Maletira said.
The San Antonio cloud computing company reported a net loss of $612 million, up nearly 81 percent from its net loss of $39 million a year ago.
“We’re still in the early days of these changes, so it will take time for progress to be reflected in our financial results,” he said of the realignment that was completed in January. The company was “using this flattening of the market to better position our company to capitalize once growth rebounds.
Rackspace also made a plan to move out of its longtime headquarters in Windcrest and pursue its newfound plans in a smaller footprint in a North Side office park. It also laid off about 275 employees, or nearly 4 percent of its global workforce in March, but declined to say how many of those were from its San Antonio headquarters.
Rackspace also has been facing a string of legal claims over the ransomware attack by customers in San Antonio, Los Angeles and New York.
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