SiliconBeat

Xilinx, the San Jose chip maker, announced a “”corporate reorganization” Wednesday “to better serve its customers and improve its operating performance.” The move will result in the elimination of 250 jobs, or about 7 percent of its workforce. (Customers usually like it when there are fewer employees to deal with, right?) Those reductions are expected to be completed “by the end of the next fiscal quarter.”

The company estimates that it will record restructuring-related charges of from $18 million to $22 million, including from $16 million to $19 million in severance pay that it will charge of in its current fiscal 2009 first quarter. Facility charges and other costs will total from $2 million to $3 million, which will be expensed in its next quarter.

Xilinx warned that restructuring charges will “adversely impact” its first quarter’s
operating expenses, which were forecast to be about unchanged from its previous
quarter.

Layoffs being music to Wall Street ears, shares of Xilinx were up 76 cents around noon in our time zone, up 2.8 percent to $27.68.