Symantec CEO: internal overhaul will not include asset sales

US-SYMANTEC-OVERHAUL:Symantec CEO: internal overhaul will not include asset sales

SAN FRANCISCO (Reuters) - Symantec Corp, which completed a strategic review in January, plans to lay off a significant number of managers and reorganize internally into 10 main business areas, but has decided not to sell off major assets for now.

Chief Executive Officer Steve Bennett told Reuters in an exclusive interview that Janice Chaffin, consumer business president, will leave the company as part of the restructuring, which will usher in 10 product-focused divisions including security, cloud and backup software.

"We looked at five different scenarios and modeled them all," Bennett said during an interview ahead of an analysts' meeting on Wednesday.

(Reporting by Jim Finkle; Editing by Leslie Gevirtz)

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