Lattice Semiconductor (LSCC) to Cut 13% of Jobs

Lattice Semiconductor (NASDAQ: LSCC) implemented a workforce reduction initiative as part of an overall plan to reduce costs and to better align its workforce with the long-term strategic needs of the Company’s business. This action is an integral part of the Company’s plan to achieve its previously stated non-GAAP operating income target of 20%. This action includes a combination of workforce reduction and elimination of positions that will result in a 13 percent reduction to the Company’s overall workforce. In connection with the reduction, the Company estimates it will incur aggregate one-time charges of approximately $5.5 million in the third quarter ending October 2, 2015 and approximately $0.5 million over the next 6 months.

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