Printed Circuit Design & Fab Online Magazine - Cadence Cuts Workforce by 5%

ENEPIG Corrosion Mechanisms
Different types of nickel corrosion and potential mitigation strategies.
READ MORE...
The Future is Thin, Flat and Flexible
What’s ahead for antennas, heaters and inks.
READ MORE...
Royalty Flush
A noted solutions architect offers an audacious plan for AI acceptance. It just might work.
READ MORE...
Rocking and Rolling at ZIW
The annual user event was tuned into AI, but that’s not the only melody being played.
READ MORE...
Can Thailand Pad its PCB Gains?
2023 saw only a handful of fabricators gain ground, but SE Asia is primed to boom.
READ MORE...

Printed Circuit Design & Fab Magazine

SAN JOSE, CA -- Cadence Design Systems, Inc. will further reduce its workforce by 5%. Cadence will eliminate approximately 225 full-time positions.

This follows the 12% workforce reduction announced in November 2008 that eliminated 625 positions.

The worldwide field organization will be reduced and there will be a decrease in investment in the manufacturing side of DfM and other infrastructure areas. The company will continue to invest in verification and system-on-chip (SoC) development.

Workforce reductions will be completed in the second-half of fiscal 2009. This will result in a restructuring charge of approximately $20 million to $25 million, pre-tax. Cadence expects to achieve annual operating expense savings of approximately $30 million from the combination of workforce and expense reductions.

“Our immediate focus is on our core capabilities, streamlining operations and preparing for the next phase of Cadence's growth," said Kevin S. Palatnik, senior vice president, CFO. "Consistent with this focus, we have resized various levels of investment in the business, resulting in the actions announced today.”

NOVEMBER ISSUE

View the Digital
Edition Here!

Cadence Cuts Workforce by 5%

POPULAR

Press Releases