Xilinx To Cut 250 Jobs

[OhioChick]

Source: Reuters

The company, whose programmable chips are used in communications network gear and consumer electronics, said it would take a restructuring charge of $18 million to $22 million.

By Reuters
InformationWeek
June 4, 2008 07:33 PM

SAN FRANCISCO - Chipmaker Xilinx said Wednesday it would cut about 250 jobs, or 7 % of its work force. Shares of the company rose more than 4%.

Following the news, brokerage firm UBS raised its price target on Xilinx stock $32 from $27 and rated the shares "buy."

Lehman Bros, in turn, raised its price target on Xilinx's chief rival, Altera, to $24 from $23 and rated the shares "equal weight."

Xilinx, whose programmable chips are used in communications network gear, consumer electronics and industrial equipment, said it would take a restructuring charge of $18 million to $22 million that would increase operating expenses in the current quarter. Previously, it had said such expenses would be little changed from the prior quarter.




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[Lint Head]

1. Lehman Bros is one of the index speculators that is responsible

for 70% of the rise in crude oil prices. Oil should be 25 to 65 dollars a barrel per the CEO's of Sunoco and Exxon. The rest is manipulated using the Enron Loophole that was left open by Phil 'Fucking' Gramm who is McCain's right hand man. :dem: