Xilinx plans to cut staff by 7% to reduce expenses

Xilinx recently released its third fiscal quarter financial report and revealed that it may plan to lay off 7% of its staff.

According to Xilinx's financial report, the company's third-quarter profit in fiscal 2019 was $ 162 million, a year-on-year decrease of 32.31%; operating income was $ 723 million, a year-on-year decrease of 9.57%.

Xilinx said its third-quarter results were mainly dragged down by its wired and wireless business, which fell 29%. In addition, revenue from its data center division also fell by 16%.

The decline in revenue has prompted the company to plan for layoffs and slowed down hiring. Xilinx said the company plans to further reduce discretionary spending, with the goal of improving the overall operating efficiency of the company. According to Xilinx, the company expects to save up to $ 20 million in operating expenses by taking steps.