Tundra Semiconductor Corp. intends to adopt a “restructuring plan” under which the company will reduce the amount of staff positions by 30. The cuts seem to be a result of the strengthening of the Canadian dollar and the resulting 15% loss in revenue over the last few quarters. 

Daniel Hoste, Tundra Semiconductor President and CEO, said, "We have responded rapidly to this market and economic volatility to address our short term cost requirements and to protect our long term strategy. We have carefully executed this restructuring initiative to ensure that rolling out our planned product roadmaps and realizing our long-term growth plan is achieved.”

By Síle Mc Mahon