UPDATE 1-Cadence Design to cut 5 pct jobs, take charge
* To reduce 225 employees
* Sees $20 mln to $25 mln charge, $18 mln in Q2
* Sees $30 mln in savings
June 10 (Reuters) - Microchip-design software maker Cadence Design Systems Inc (CDNS.O) said it would shed 5 percent of its workforce, or 225 employees, as it targets operating-expense savings of about $30 million.
Cadence expects a pretax restructuring charge of about $20 million to $25 million, of which about $18 million will be recorded in the second quarter.
The job cuts are expected to be completed in the second half, the company said in a statement.
In late April, Cadence, which rivals Synopsys Inc (SNPS.O) in the electronic design automation market, posted a narrower-than-expected loss helped by a 19 percent drop in costs.
Shares of the San Jose, California-based company closed at $5.93 Wednesday on Nasdaq. (Reporting by Savio D'Souza in Bangalore; Editing by Vinu Pilakkott)
