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BRIEF-Pixelworks streamlines organization following recent acquisition of Vixs Systems
September 14, 2017 / 8:15 PM / 3 months ago

BRIEF-Pixelworks streamlines organization following recent acquisition of Vixs Systems

Sept 14 (Reuters) - Pixelworks Inc

* Pixelworks streamlines organization following recent acquisition of Vixs Systems

* Pixelworks Inc - ‍Restructuring eliminates redundant and non-strategic expenses, which include an approximate 15% reduction in total workforce​

* Pixelworks Inc - ‍Pixelworks expects to realize approximately $4.0 million of annualized compensation expense savings, beginning in Q4 of 2017​

* Pixelworks Inc - ‍Integration process is expected to be completed by year-end​

* Pixelworks Inc - Expects to incur total charges of about $2 million related to employee severance and benefits, which will largely be recognized in Q3 FY17 Source text for Eikon: Further company coverage:

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