- Company expects to eliminate at least 625 full-time positions, representing 12% of its global employee base, plus a substantial number of contractors and consultants. Because of varying regulations in the jurisdictions and countries in which Cadence operates, workforce reductions will be realized over a period of time and are expected to be completed in the second half of fiscal 2009. Cadence expects to record a restructuring charge of approximately $65M to $70M pre-tax, $48M of which will be recorded in the third quarter of 2008.

Other headlines for [CDNS]

• CDNS Yesterday 04:36pm
  Cadence Design Systems, Inc. Appoints Lip-Bu Tan President and CEO, effective immediately- Lip-Bu Tan, 49, has been a member of Cadence''s Board of Directors since 2004, and serves as a member of the Finance and Technology more...
  
• CDNS 1/6/2009 10:40pm
  Cadence Design Systems, Inc. Insiders acquired more than $1M of stock in the company in Dec - WSJ- The insider purchases came as the company's shares traded near a 52-week low.
  
• 12/19/2008 08:32am
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• 12/17/2008 02:32pm
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• CDNS 12/11/2008 06:16am
  Cadence Design Systems, Inc. Price Target lowered to $4.50 from $5.50 at Merrill, maintains underperform rating
  

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