Citrix Systems ($CTXS) announced that it plans to

Citrix Systems ($CTXS) announced that it plans to spin off its GoTo family of products into a separately traded company. The transaction is expected to close in the second half of 2016. Along with the spin-off, a few other actions, including the elimination of 1,000 full time and contract roles, are expected to help the company to achieve $200 million in annualized pre-tax cost savings, with 75 percent expected to be achieved in 2016.