Synopsys to lay off roughly 10% of workforce following Ansys deal

[SynopsysOffic in Kanata, Ottawa, ON, Canada.]

* Synopsys (SNPS [https://seekingalpha.com/symbol/SNPS]) said [https://seekingalpha.com/filing/36289744] on Wednesday that it will let go roughly 10% of its workforce after it completed its acquisition of Ansys.
* The restructuring allows the electronic design automation company to invest in “key growth opportunities and drive business efficiencies” following the merger, Synopsys said in an 8-K filing. It expects to record pre-tax charges ranging between $300M and $350M, consisting of severance and other termination benefits.
* The company expects the majority of the layoffs to occur in fiscal 2026 and to substantially complete the restructuring plan by the end of fiscal 2027.
* Synopsys completed [https://seekingalpha.com/news/4467427-synopsys-becomes-premier-chip-to-system-design-firm-on-ansys-acquisition-needham] its $35B acquisition of Ansys in July. The deal was first announced in January 2024.

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