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Apple supplier Synaptics issues layoffs and office closures
Supplier of touch controllers and fingerprint sensors, Synaptics, has via a securities and exchange commission filling informed that it intends to plans to eliminate about 160 employee positions and reduce headcount globally by approximately 9%.
The filling also states that Synaptics plans to implement a space consolidation program affecting certain of its locations, meaning that it will close down some – still unnamed – offices. These programs represent cost-cutting measures to align the company’s cost structure consistent with its revenue levels.
The Company currently expects the reduction in force charges, consisting primarily of severance and other one-time benefits, to be in the range of USD 10.0 to USD 11.0 million; and the space consolidation, consisting primarily of lease cancellation charges and related costs, to be in the range of USD 3.0 to USD 4.0 million.