Cadence Design Systems, the San Jose supplier of electronic design automation software, will eliminate the equivalent of about 225 full-time employees between now and the end of the year. Based on the 4,900 employees the company reported having at the end of 2008, the layoffs represent about 5 percent of Cadence’s total workforce.
The action is expected to cost Read the rest of this entry »
Three years ago, Cadence Design Systems broke ground on the first structure to be built under the so-called North San Jose Vision 2030 Plan, which envisions 26.7 million square feet of new development on the city’s north side.
Now the five-story, 208,000 square-foot R & D building has been completed on the company’s campus at 2655 Seely Avenue. And executives at Cadence - whose products helps other companies make computer chips - are talking it up big time.
Designed to house employees previously located at four nearby buildings, the new building already is “resulting in many productive brainstorming sessions that spark innovation,” Cadence declared in a prepared statement.
That’s a good thing, because Cadence - like a lot of companies in the semiconductor industry these days - could use a little innovating, particularly on the financial front. It’s just reported fourth-quarter earnings weren’t pretty. It lost $1.64 billion. During the same period a year ago, it earned $120 million.
It’s Cadence Design Systems, the San Jose-based company, whose software and hardware helps other companies make computer chips. It just broke ground for a new five-story, 208,000 square foot research and development center on its campus
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