We welcome you to JobBank USA and hope your job hunting experience
is a pleasant one. We hope you find our resources useful.
June 10, 2009
Cadence Design Systems Inc. announced a restructuring Wednesday that will cut about 225 full-time jobs, or 5 percent of the global work force, and save about $30 million a year.
San Jose-based Cadence (NASDAQ:CDNS) said the job cuts are expected to be completed in the second half of fiscal 2009.
Cadence expects to record a restructuring charge of approximately $20 million to $25 million pre-tax, approximately $18 million of which will be recorded in the second quarter of 2009.
"Our top priorities are serving our customers and enhancing value for our shareholders," said CEO Lip-Bu Tan. "The measures we are announcing today streamline our operations as we simultaneously invest to enhance technology leadership in key growth areas. We are confident that the changes we are implementing will make Cadence a stronger, more focused Company as we emerge from the current economic downturn."
Email This Page!