The move to cut almost 13 percent of its workforce is to lessen its R&D expenses.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Portland-based Lattice Semiconductor has planned a round of layoffs
The move to cut almost 13 percent of its workforce is aimed at lessening its R&D expenses. As many as 175 people could lose their jobs.
The company said the layoffs are “an integral part” of a plan to improve one measure of its operating income following its $600 million purchase of a California company called Silicon Image last winter.
“We knew that we were still oversized from an R&D (research and development) perspective,” said Gloria Zabel, Lattice’s chief of staff. “There are tough decisions. These are hard things that are necessary.”
Lattice said the cuts will trigger one-time costs of $5.5 million applied to the quarter that ended October 2, and another $500,000 over the next six months, in part to cover severance for employees who lost their jobs.
(SOURCE: OregonLive.com)
The company also said it was relocated some positions to Oregon from its California facility. Lattice has an office in the US Bancorp Tower building in downtown Portland.
Lattice makes field-programmable gate array chips, which can be programmed after manufacturing, making these chips more flexible for customers. Lattice focuses on chips for the lower end of the market that are lower margin than competitors such as Altera, which is currently being acquired by Intel.
Since the Intel/Altera deal was announced, Lattice has been seen by industry analysts as a possible acquisition target. Earlier this summer the company said it was not for sale.
(SOURCE: Portland Business Journal)
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