Wednesday, July 2, 2003
The two biggest EDA companies, Synopsys Inc. and Cadence Design Systems Inc., have shut down their respective offices this week to give employees an long July 4 weekend while at the same time saving money.
Spokesmen for both companies said the Fourth of July shutdowns were planned at the beginning of the year.
"This week's shutdown was planned earlier in the year when business conditions were uncertain," said a Synopsys spokesperson. "Synopsys chose to do a shutdown during a slower time of year as a prudent cost-saving measure. The shutdown should save the company several million dollars." The shutdowns will likely trim millions in expenses off the two companies' respective quarterly expense sheets, as they compete for the number one spot in the EDA market.
Cadence has been trying to regain market leadership from Synopsys. It is also reportedly in the midst of laying off 10 percent, or more than 550 employees, in an effort to reduce costs.
Mentor Graphics Corp. and Magma Design Automation, the industry's third and fourth largest companies, respectively, said they would remain open this week until July 4.
By: DocMemory
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