More “streamlining” at SGI eliminates 120 jobs

silicon-graphics-logoSilicon Graphics reported eliminating about 120 jobs, or about 9 percent of its staff, on Feb. 26. The move was part of an “ongoing effort to refine its focus, streamline its operations and reduce costs.”

In July the company cut 100 jobs, or 7 percent of its staff, after which the company paid its chief executive a $150,000 bonus and authorized the distribution of a $3.44 million “discretionary bonus pool” even though the company couldn’t make payments under a performance-based incentive plan because targets were not met.

The most recent job cuts are expected to cost the company $3 million related to severance and other termination costs. The cuts are “expected to be substantially completed by March 27, 2009.”

 

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  • Jerry Anderson

    You forgot to mention that SGI also laid off 255 in December 2008.

  • Larry

    I believe SGI will have to close all his business out of US in the future. SGI only have 1200 employee and 300+M business now.

 
 
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