Xilinx to cut 250 jobs
By siliconindia   |   Saturday, 07 June 2008, 01:46 IST
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San Jose: As a part of Chipmaker Xilinx's reorganization, the company has announced that it would cut about 250 jobs, which accounts seven percent of its work force. Shares of the company rose more than four percent. According to the company spokesperson the job cuts would be in the San Jose area. The company with its new structuring includes two centralized engineering organizations: the silicon engineering group and the solutions development group. The workforce reduction expects to be completed by the end of the next fiscal quarter and Xilinx expects to record restructuring-related charges of approximately $18-22 million. Following the news, brokerage firm UBS raised its price target on Xilinx stock $32 from $27 and rated the shares "buy."

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