SANTA CRUZ, Calif. Synopsys Inc. is laying off around 3 percent of its work force, or around 120 people, in its first fiscal quarter ending Jan. 31. The company will take a charge between $4.8 million and $5.3 million for the quarter.
The layoffs came to light in a 10-K form filed Wednesday (Jan. 29). "The purpose was to reduce expenses by decreasing the number of employees in all departments in domestic and foreign locations," according to the filing. "The charge consists of severance and other special termination benefits."
A Synopsys representative said the company had 4,291 employees in December prior to the layoffs. One source suggested that the layoffs may stem from staffing overlap following Synopsys' purchase of Avanti Corp. in 2002.