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Synaptics announces job cuts

Published 11/17/2017, 04:43 PM
© Reuters.  Synaptics announces job cuts
SYNA
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  • Synaptics (NASDAQ:SYNA) announces notifying employees of a reduction in force program that will eliminate around 156 positions.
  • The cuts will reduce the global headcount by about 7%.
  • Synaptics expects charges of $8M to $10M for severance and other related one-time fees. Space consolidation actions will have a $1M to $2M charge.
  • Charges will be recognized in 2Q18 and additional costs in 2H18.
  • Synaptics shares are up 0.34% aftermarket.
  • Previously: Synaptics +6.6% after Q1 beats, strong guidance (Nov. 7)
  • Now read: Synaptics Transitioning From Mobile To IoT


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