Printed Circuit Design & Fab Online Magazine - Mentor to Lose 4% of Employees through Early Retirement, Restructuring

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Printed Circuit Design & Fab Magazine

WILSONVILLE, OR – Mentor Graphics said approximately 110 North American employees have elected to participate in a voluntary early retirement program.

Approximately 4% of the company’s global workforce is expected to be impacted by this program and other restructuring.

The program will be initiated in the first quarter of fiscal 2016.

The company expects to take GAAP restructuring charges of approximately $37 million. The majority of the charges are personnel related. Approximately $34 million is expected to be charged to the company's first quarter ending Apr. 30.

"Mentor Graphics has several high-growth opportunities, including embedded software, the transportation market and the continued growth of the Pacific Rim, both as developers and consumers of advanced electronics," said Walden C. Rhines, chairman and CEO. "These restructuring activities will enable Mentor to focus personnel and resources on priority opportunities and regions of the world, deliver long-term growth and build shareholder value."

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Mentor to Lose 4% of Employees through Early Retirement, Restructuring

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