"A spokesperson told the San Francisco Chronicle the aim here is to "improve our efficiency" and capitalize on the "highest-growth opportunities". "These initiatives will result in reducing our global workforce over the course of our fiscal year 2026," the spokesperson added. "We do not take these measures lightly and are committed to treating impacted employees with respect and providing support through the transition.""
"Regulatory filings show the company plans to cut roughly 2,000 jobs beginning immediately as part of a restructuring plan set to finish in fiscal year 2027. The layoffs follow its acquisition of engineering design company Ansys for $35 billion, with the deal announced in January last year and completed in July of this year after regulator scrutiny. Synopsys missed analyst predictions in its latest earnings results, announced in September, posting $1.74 billion in third quarter revenue - that was up 14% year-on-year, but below expectations."
Synopsys plans to cut roughly 10% of its global workforce—about 2,000 jobs—beginning immediately and continuing through fiscal year 2027 as part of a restructuring to invest in growth areas and drive efficiencies after acquiring Ansys. The Ansys acquisition was valued at $35 billion and closed in July following regulatory review. Synopsys reported $1.74 billion in third-quarter revenue, up 14% year‑on‑year but below analyst expectations; design automation revenue rose 23% while design IP revenue declined 8%. The company expects up to $350 million in charges for layoffs and site closures and faces a class-action lawsuit related to its AI focus.
Read at IT Pro
Unable to calculate read time
Collection
[
|
...
]