Loss-making Cypress Semiconductor is in the process of sacking 500 employees out of its 6,900 workforce at a cost of $40 to $50 million in severance payments. The 7% cut in the workforce follows the appointment of new CEO Hassane El-Khoury who took over from founding CEO T.J.Rodgers. Cypress’ H1 loss was $623 million on ...
Read full article: Cypress laying off 7% of workforce
from Electronics Weekly http://www.electronicsweekly.com/news/business/cypress-laying-off-7-workforce-2016-10/
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