Cadence Design Systems to Cut 225 Jobs

Cadence Design Systems will cut 225 jobs, or about 5% of its workforce.

The company expects to record a pre-tax restructuring charge of up to $25 million in Q2, and save about $30 million a year with the restructuring.

San Jose, California-based Cadence Design Systems is an electronic design automation software and engineering services company, founded in 1988 by the merger of SDA Systems and ECAD.