Cadence to Lay Off 120 Workers Print E-mail
Written by Mike Buetow   
Sunday, 17 January 2010 16:56

SAN JOSE -- Cadence Design Systems will lay off 120 full-time workers and take $11 million to $15 million in pretax charges as part of a just-announced restructuring plan.

The layoffs will be realized over a period of time and are expected to be completed by the end of fiscal 2010. The company, which makes software for printed circuit and semiconductor design, did not specify which business units or regions would be affected.

The EDA company, the world's second-largest in terms of revenues, expects annual operating savings of approximately $19 million through a combination of workforce and other expense reductions.

The firm said it expects to record restructuring charges of $10 million to $12 million in its fiscal fourth quarter, mostly for employee-related costs and costs related to facilities reduction. 

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