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Rambus to cut workforce
By siliconindia
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Thursday, 07 August 2008, 00:08 IST
Bangalore: Following its second quarter loss of $144.7 million, compared to a loss of $2.7 million in the same period last year, Rambus, a technology licensing company specializing in high-speed memory architectures, is planning to cut its workforce.
"We intend to reduce our current cost structure through actions which may include downsizing our workforce in order to maintain the financial strength of the company. In doing so, we will continue to support our customers and ensure we follow through on the commitments made to them. We will continue to invest in technology development," said CEO Harold Hughes.
Los Altos-based Rambus had posted $35.7 million in revenue, down 24.9 percent from the second quarter of last year.
Total costs and expenses the company reported in the second quarter were $52.6 million, which included $9 million of stock-based compensation expenses and $2.3 million for the previous stock-based compensation restatement and related legal expenses.
In the second quarter of last year total costs and expenses were $57.7 million, which included $10.3 million of stock-based compensation expenses and $7.5 million of restatement and related legal expenses.
Reports say that CEO's announcement has sent fears across the Rambus employees.
