Xilinx Eliminates 6% of its Workforce

Xilinx, the leading programmable logic devices supplier in the world, has announced that they will cut up to 6% of their workforce. The cuts could amount to as many as 200 jobs being lost. The jobs are being cut to save Xilinx money as they deal with slumping sales around the globe.

Xilinx Cutting Jobs (Image: Flickr)

In addition to the job cuts, Xilinx has begun to institute other measures to cut costs. Among those measures are a salary freeze, a hiring freeze and a reduction in salaries for some of the high level executives in the company. Eventually, Xilinx believes that all of these measures will save the company more than one million dollars per month.

At the end of the trading day, Xilinx stock was at $20.59. After this news hit the wires, their shares climbed slightly to $20.74.

Based in San Jose, California, Xilinx is also famous for inventing the field programmable gate array. In 2008, the company reportedly had revenue approaching two billion dollars.