CDNS: 12% of Employees Laid Off

Nov 10, 2008

CDNS: 12% of Employees Laid Off

Cadence Design Systems gets rid of 625 employees + contractors + consultants to save $150 million in annual expenses. Lip-Bu Tan is Interim vice chairman of the Interim Office of the Chief Executive:

The decision to streamline our workforce was made with the utmost care and respect for the hard-working and talented Cadence employees. We believe that with this restructuring we are acting in the best interests of our company and our shareholders.

Who will be next?

Source.

Posted at 01:14 AM in CAD: Financials | Permalink

Comments

Looks like Autodesk from here:
http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2008/11/03/daily39.html?ana=yfcpc

[ht: PTC]

Posted by: Belinda VonDoolittle | Nov 10, 2008 at 07:07 AM

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Nov 10, 2008