Entropic cuts staff

US semiconductor firm Entropic Communications plans to reduce its headcount by 6% as it seeks to rebalance operations after making two acquisitions that have effectively doubled its staff in the space of less than a year.

In an SEC filing made yesterday (December 3rd), the company states that it expects this move to help it leverage synergies from its recent acquisitions, optimise resources around the projects and customers that drive the maximum growth of its businesses, and meet its financial objectives.

As a result of these reductions in headcount, Entropic will incur a restructuring charge of US$ 0.9mn in the fourth quarter of this year, with annualised costs associated with the 40 employees being estimated at US$ 4.2mn.

The company acquired rival chip maker Trident Microsystems around eight months ago for US$ 65mn, bringing an extra 365 employees, and the assets of PLX Technology a few months later for US$ 8mn.

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