Lattice Semiconductor To Cut 13% Of Workforce - Quick Facts

(RTTNews) - Lattice Semiconductor Corp. (LSCC) disclosed in a regulatory filing that it has implemented a workforce reduction and elimination of positions that will result in 13 percent reduction in its overall workforce.

The company this initiative is part of an overall plan to reduce costs and to better align its workforce with long-term strategic needs of its business. The company added that this action is an integral part of the plan to achieve its previously stated non-GAAP operating income target of 20%.

In connection with the reduction, the company estimates to 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.