Brief: Pixelworks Approved A Restructuring Plan

Pixelworks

27/06/2024 13:48

June 27 (Reuters) - Pixelworks Inc  PXLW.O :
    * PIXELWORKS INC - APPROVED A RESTRUCTURING PLAN
    * PIXELWORKS INC - RESTRUCTURING PLAN TO MAKE OPERATION OF
COMPANY
MORE EFFICIENT AND WHICH WOULD RESULT IN AN APPROXIMATELY 16%
REDUCTION IN WORKFORCE
    * PIXELWORKS INC - EXPECTS RESTRUCTURING TO BE SUBSTANTIALLY
COMPLETE BY END OF Q2 ENDING JUNE 30, 2024
    * PIXELWORKS INC: EXPECTS TO INCUR TOTAL ESTIMATED
RESTRUCTURING
CHARGES OF APPROXIMATELY $1.7 MILLION RELATED TO EMPLOYEE
SEVERANCE AND BENEFITS

Source text for Eikon:  ID:n0001040161-24-000025 
Further company coverage:  PXLW.O 

 ((Reuters.Briefs@thomsonreuters.com;))