Performance is worse than expected, Xilinx may lay off about 7% of employees-EEWORLD

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Xilinx's latest financial report data shows that the company's profit in the third quarter of fiscal year 2019 was US$162 million, a year-on-year decrease of 32.31%; operating income was US$723 million, a year-on-year decrease of 9.57%.

Combined with other measures to reduce operating expenses, the layoffs will save $17 million to $20 million next quarter, as Xilinx expects to incur pre-tax charges of $25 million to $30 million, primarily related to severance pay.

Xilinx CEO Victor Peng said that the slowdown in the growth of 5G and wired infrastructure has impacted the company's communications-related product division's revenue. He pointed out that although revenue growth was not as good as expected, the company's profitability is expected to increase by actively reducing operating expenses.

"We expect some of the headwinds in both our wired and wireless businesses to persist, resulting in lower revenue growth than we previously expected. As a result, we are taking several actions to further reduce operating expenses in the quarter."

"Although it is difficult, we believe the decisive steps we are taking will enable us to advance our strategic and technology roadmap and reach a more appropriate level of operating profitability," Peng said.

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