November 6, 2024 /SemiMedia/ — Lattice Semiconductor announced a corporate restructuring plan, including a workforce reduction of approximately 125 employees, representing 14% of its total workforce. Starting in the fourth quarter, the company aims to reduce quarterly operating expenses by about $4.5 million. The restructuring will result in related charges of approximately $3.3 million to $3.8 million in the third quarter and $400,000 in the fourth quarter.

Following the restructuring, Lattice expects a 14% reduction in labor and operating costs, which is anticipated to support low double-digit revenue growth in 2025. Third-quarter performance included a one-time cost of $6.5 million for efficiency-focused measures. CEO Ford Tamer commented, "We do not anticipate additional cuts."

In the third quarter of 2024, Lattice appointed Ford Tamer as its new CEO and board member. Tamer brings extensive experience in the semiconductor, networking, and enterprise software sectors, having previously served as CEO of Inphi, where he oversaw the company's merger with Marvell.

On the product front, Lattice's hardware and software technology has been integrated into AI computer vision applications on Dell's XPS models. The Lattice Nexus FPGA platform has also expanded with new products and packaging options, delivering high energy efficiency, reliability, and flexible migration capabilities for broad applications in communications, computing, industrial, and automotive markets.

As a leader in low-power programmable technology, Lattice Semiconductor focuses on addressing network needs from the edge to the cloud, supporting a smarter, safer, and more connected world.