Wednesday, June 10, 2009
Cadence Lops 225
San Jose-based Cadence Design Systems, a provider of electronic design automation software, said alte Wednesday that the firm is cutting 225 full time employees, or 5 percent of its employee base. According to the firm, the restructuring comes sa the firm looks to further streamline operations. The company said the cuts will save it approximately $30M. According to Cadence, most of the cuts came from "resizing" its worldwide field organization, spending less on design-for-manufacturability (DFM) efforts, and other infrastructure. Exact operations affected by the move were not disclosed by Cadence, but the company did say that it would be limited by regulations in the various companies it operates in on the speed of cuts, completing the cuts by the second half of fiscal 2009.