Entropic Cuts Workers, Closes Locations
, a manufacturer of semiconductors for the home entertainment market, said in a filing with the SEC Tuesday that the firm is cutting approximately 55 of its employees, or 18 percent of its workforce. According to the company, its workers were notified Monday and Tuesday that it would make the cuts. Entropic said the move was made to "better position" the company in current market and financial conditions, as well as to "more closely align operating expenses with revenues." In addition to the employment cuts, Entropic said it is closing its locations in France and Israel, and suspended further development of its advanced network processors being developed in Israel.
posted on Wednesday, March 25, 2009
> Entropic Communications Buys RF Magic
> Entropic Buys Trident Microsystems' Set Top Box Operations For $65M
> Intuit Cuts Workers In San Diego
> Entropic Names Chinese GM
> Entropic Promotes VP