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News Breaks | | | | January 9, 2013 | | 16:38 EDT |  | GIG | GigOptix reduces global workforce by 10% and reduces salaries
GigOptix has taken actions which became effective today to adjust overall spending. These actions include reducing the company’s global workforce by about 10%, primarily in the company’s support and administrative functions, and company-wide salary reductions ranging between 5%-25% based on an individual’s salary level. These actions are expected to result in approximately $450K of quarterly cost savings once the plan is fully implemented. | |
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