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News Breaks
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February 2, 2012
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| 16:27 EDT |  | IKAN |
| theflyonthewall.com: | Ikanos Communications to cut work force by 16%, sees FY12 charges | | In an effort to manage the company's operating expense to its projected revenue forecast, the company has initiated a worldwide restructuring plan in the first quarter of this year which will result in approximately a 16% headcount reduction. Although the restructuring plan is expected to result in approximately $5M in annual operating expense reductions these cost savings are expected to be offset by new product tape-out expenses that will occur throughout 2012. As part of the restructuring, the company expects to incur a total pre-tax restructuring charge in the range of $1.25M-$1.5M in 2012. This charge will include expenses related to the severance for terminated employees and other exit-related costs arising from contractual and other obligations. :theflyonthewall.com |
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