Phoenix Technologies (PTEC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Phoenix Technologies (PTEC)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Marc Phelan who wrote (2886)	11/10/1998 7:18:00 AM
From: Marc Phelan	Read Replies (1) of 3624

Phoenix Announces Restructuring Resulting From Recent Acquisitions Phoenix Technologies Ltd. announced the completion of the restructuring resulting from the recent acquisitions of Award Software and Sand Microelectronics. The restructuring will include the elimination of 38 positions, a global workforce reduction of about 5 percent. The Company will record a one-time charge of approximately $1.9 million in the current quarter to cover severance benefits, facilities consolidations and program streamlining associated with the integration of the three companies. Phoenix estimates that its annual operating expenses will be lowered by approximately $4.8 million due to the reduced employee- and facilities-related expenses. biz.yahoo.com Looks like we are seeing the positive results of the mergers to the bottom line.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next