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Trident to slash 275 jobs

Posted: 28 Sep 2011 ?? ?Print Version ?Bookmark and Share

Keywords:layoff? restructuring? cost cutting?

As part of the company's turnaround strategy, Trident Microsystems Inc. will cut 275 jobs from its 1,275 employees early next year. The set-top box and TV IC manufacturer will lay off staff from all functional areas to lower the company's financial breakeven point.

The cost cutting measure will allow Trident to reduce its annual costs by $40-$48 million and reduce its EBITDA breakeven level to about $340-$360 million in annual revenues. The company said it expects to incur about $8-$10 million in restructuring charges, including nearly $2-$3 million in the quarter ending Sept. 30 this year.

"We are taking decisive actions to better position Trident for success as we enter 2012, given the current mass production timing of our new design wins and the soft economic environment," noted Bami Bastani, Trident's CEO.

- Peter Clarke
??EE Times

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