Magma to cut 10% jobs

EDA vendor Magma Design Automation Inc. plans to restructure its operations and reduce its workforce b up to 10 percent, the company said Thursday (Oct. 2).Magma could not provide a specific number for the planned layoffs, but said it would be 10 percent or less of the company’s total workforce. Magma’s total head count at the close of its most recent quarter was 1,011.

The move is part of a plan initiated in May 2008 to restructure its operations, Magma said. The goal of the restructuring is to reduce costs and focus on key product areas, the company said.