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Synopsys, Inc. (NASDAQ:SNPS) announced on Sunday that its board of directors has approved a restructuring plan expected to result in the termination of approximately 10% of the company’s workforce as of the end of fiscal year 2025. The plan follows the completion of Synopsys’ acquisition of ANSYS, Inc.
According to a statement in a Securities and Exchange Commission filing, Synopsys estimates it will record pre-tax charges between $300 million and $350 million. These charges are expected to cover severance, other one-time termination benefits, and costs associated with certain site closures as part of the company’s global site strategy.
The majority of workforce reductions are anticipated to take place during fiscal year 2026, with the restructuring plan projected to be substantially completed by the end of fiscal year 2027, subject to local law and consultation requirements.
The company stated that the restructuring will allow for investment in key growth opportunities and increased business efficiencies.
This information is based on a press release statement included in Synopsys’ SEC filing.
In other recent news, Synopsys announced the departure of Rick Mahoney as the company’s chief revenue officer, effective immediately, while confirming that a search for his replacement is underway. The company has reaffirmed its financial targets for the fourth quarter and the full fiscal year 2025, with plans to discuss these results in an upcoming earnings call on December 10, 2025. Additionally, Synopsys has received final regulatory approval to proceed with the divestitures of its Optical Solutions Group and PowerArtist businesses to Keysight Technologies, a move required for its acquisition of Ansys, which was completed earlier this year.
The company also showcased advancements in its engineering solutions portfolio at the NVIDIA GTC in Washington, D.C., highlighting its recent combination with Ansys to enhance semiconductor design and physics simulation technologies. In another development, Synopsys unveiled a digital twin racetrack experience at the Aramco STEM Racing World Finals, with plans to enhance this technology for the upcoming STEM Racing season. On the analyst front, KeyBanc has reiterated its Overweight rating on Synopsys with a price target of $590, expressing confidence in the company’s fiscal performance and future prospects.
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