Semtech cutting 6% of workforce

A month after issuing an FQ4 warning, Semtech (SMTC) says it's cutting 6% of its workforce. The analog chipmaker expects to achieve $35M/year in cost savings.

Analysts currently expect Semtech's FQ4 (Jan. quarter) sales to drop 16.9% Y/Y, and its FQ1 sales to drop 19.3%.

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