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.

Comments

[Belinda VonDoolittle]

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

[ht: PTC]