Cloud computing company Citrix Systems Inc (CTXS.O) said it would cut about 1,000 jobs and spin off its GoTo business into a separate listed company as part of a review of its operation.

Citrix, the target of activist hedge fund Elliott Management, said it expects about $200 million in annualized pre-tax cost savings, 75 percent of which is likely to be in fiscal 2016.

The company also said it would incur pretax charges of about $65 million-$85 million related to the job cuts in the fourth quarter of 2015 and fiscal 2016.

(Reporting by Abhirup Roy in Bengaluru; Editing by Sriraj Kalluvila)

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