Layoffs at Three SV Companies POSTED November 14, 2009 SAN JOSE -- It's bad news on the job front as three major Silicon Valley companies announced layoffs this week. Electronic Arts, the world's leading video-game publisher, is looking to focus on higher-margin games and will layoff about 1,500 employees after reporting a loss of $317 million in its fiscal second quarter. The company said it also plans to close several facilities. A majority of the actions will be completed by March 31, 2010. This restructuring plan will result in annual cost savings of at least $100 million for EA and charges of $130 to $150 million. EA also announced it will acquire Playfish of the UK, a maker of social video games, for $300 million. Adobe, the maker of Photoshop and Acrobat software, said it will cut 680 positions worldwide or about 9% of its workforce. The company will incur restructuring charges of $65-71 million. The company cut 600 employees last year. Applied Materials, the leading manufacturer of equipment for the semicondutory industry, also announced a restructuring that will eliminate 1,300-1,500 jobs over the next 10 months. The company plans the following changes: * Embedding its sales force into its business groups to increase visibility into customer and market opportunities. * Consolidating its manufacturing and supply chain closer to more of its customers and suppliers. * Implementing various cost reduction initiatives and a restructuring plan expected to achieve total annualized cost savings of approximately $450 million when completed. Return to SVDaily Home Page © Copyright SVDaily.com

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