Entropic to lay off 23% of its global staff
Set top box and such high definition digital TV semiconductor chip maker Entropic has decided to close or reduce some of its global facilities. On whole Entropic plans to trim its global staff size by 23 percent. Entropic to close its design facilities at Austin, Texas; Israel; India; and Taiwan. Entropic has a design center in Hyderabad, India.
Entropic said it will strengthen its offices in San Diego, Irvine and San Jose, California, with specialized and local efforts maintained in Shanghai and Shenzhen, China and Belfast, Northern Ireland.
Entropic had reported first quarter 2014 net revenues of $55.7 million, net revenues of $57.9 million in the fourth quarter of 2013, and $74.5 million in the first quarter of 2013.