A Sad Day :-( “PMCS Announces Cost Reduction”

Most of the financial analysts are liking this move, but it comes with a human cost 😦

These were awesome design centers with great people. It is a sad day for me.

PMC-Sierra Announces Cost Reduction Initiative and Business Outlook Update for First Quarter 2007: Financial News – Yahoo! Finance:
   
Press Release Source: PMC-Sierra, Inc.

PMC-Sierra Announces Cost Reduction Initiative and Business Outlook Update for First Quarter 2007
Thursday March 29, 4:05 pm ET

SANTA CLARA, Calif.–(BUSINESS WIRE)–PMC-Sierra, Inc. (NASDAQ:PMCS – News), today announced that it is undertaking a corporate restructuring that the Company expects will reduce on-going annualized operating expenses by an estimated $20 to $24 million per year.

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2 Responses to A Sad Day :-( “PMCS Announces Cost Reduction”

  1. Sorry to hear this. Been through it myself too many times. In the end it is better to have a healthy company. You just can’t do this every other quarter.

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