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BRIEF-Cypress Semiconductor says adopted a restructuring plan
2016年10月3日 / 晚上8点52分 / 1 年前

BRIEF-Cypress Semiconductor says adopted a restructuring plan

Oct 3 (Reuters) - Cypress Semiconductor Corp

* A portion of charges may be recorded and paid in cash through fiscal year 2017 - SEC filing

* Cypress semiconductor corp says on september 27, 2016, co adopted a restructuring plan

* Expects to eliminate approximately 500 positions from its global workforce across all business and functional areas

* Expects to record and pay cash employee severance and other related charges in a range of about $40 million to $50 million, primarily in q3 and q4

* 2016 restructuring plan may not result in a material reduction in future operating expenses

* Plans to reinvest portion of savings generated from 2016 restructuring plan into employee related matters, business initiatives Source text for Eikon: Further company coverage:

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