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Xilinx looks to restructuring
16 April 2009 | By Jon Haines | Recruitment News
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Xilinx, Inc. has announced plans to restructure the company, including getting rid of 6% of its workforce, or 200 employees, which would have a pre-tax charge of US$11-US$13 million for the June quarter, mostly dealing with severance pay expenses.According to the Irish Times, this will move jobs to Xilinx’s facility in Singapore, after being based at the company’s headquarters in Dublin. The company adds that it would still have “substantial operations in Ireland” dealing with research and development, engineering, IT and marketing.
Xilinx released a statement saying, “The development is part of a global reorganisation to ensure ongoing competitiveness in line with current economic conditions that have forced many companies to take similar measures.”
The company will also employ short-term cost savings such as reducing executive salaries. It hopes to generate cost and operating expense savings of close to US$4-US$5 million each quarter starting in the June. This past quarter will not be affected.
In the long-term, Xilinx wants to add more supply chain efficiencies which would total close to US$10 million during the 2010 fiscal year. These would possibly alter the structure and location of various operations, but should save Xilinx assets over time.