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Electronics Production | June 04, 2008

Xilinx cuts global workforce by 7%

US based FPGA and CPLD manufacturer Xilinx, Inc. has announced a corporate reorganization into functional areas to better serve its customers and improve its operating performance.

As a result of the reorganization, Xilinx will eliminate approximately 250 positions, or about 7 percent of the Company's global workforce. The workforce reduction is expected to be completed by the end of the next fiscal quarter. The Company expects to record restructuring-related charges of approximately $18-22 million in connection with the reorganization. These one-time pre-tax charges are comprised of approximately $16-19 million of severance pay expenses, which will be recorded in the first quarter of fiscal 2009 and approximately $2-3 million of facility and other associated costs, a portion of which will be recorded in the second quarter of fiscal 2009. The restructuring charges will adversely impact the Company's first quarter's operating expenses, which were forecasted to be approximately flat sequentially for the June ending quarter.
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