Layoffs Hit 1,600 in Cypress Deal
Rick Merritt, EETimes
3/13/2015 01:29 PM EDT
SAN JOSE, Calif. — Cypress Semiconductor and Spansion completed their merger Thursday and notified staff of plans to cut as many as 1,600 jobs, according to an internal memo obtained by the San Jose Mercury News. The cuts represent more than 20% of the companies’ combined staff.
When the deal was announced in December, the companies said they expected to have combined revenues approaching $2 billion and save $135 million in annual costs within three years. It became apparent within less than a month of discussions about a potential merger that “we could run the combined companies a lot more efficiently,” said T.J. Rodgers, chief executive of the combined company, speaking in a video on the Cypress Web site.
To read the full article, click here
Related Semiconductor IP
- Xtal Oscillator on TSMC CLN7FF
- Wide Range Programmable Integer PLL on UMC L65LL
- Wide Range Programmable Integer PLL on UMC L130EHS
- Wide Range Programmable Integer PLL on TSMC CLN90G-GT-LP
- Wide Range Programmable Integer PLL on TSMC CLN80GC
Related News
- Cypress adds reconfigurability to programmable SoC family
- Cypress Introduces Industry"s First USB On-the-Go - OTG - Reference Design
- Cypress and Alcatel Team to Provide Gigabit Ethernet Solutions
- Cypress strikes deal with MorethanIP
Latest News
- RaiderChip NPU for LLM at the Edge supports DeepSeek-R1 reasoning models
- The world’s first open source security chip hits production with Google
- ZeroPoint Technologies Unveils Groundbreaking Compression Solution to Increase Foundational Model Addressable Memory by 50%
- Breker RISC-V SystemVIP Deployed across 15 Commercial RISC-V Projects for Advanced Core and SoC Verification
- AheadComputing Raises $21.5M Seed Round and Introduces Breakthrough Microprocessor Architecture Designed for Next Era of General-Purpose Computing