MIPS to restructure, align with Android

Peter Clarke, EE Times
(06/24/2010 9:48 AM EDT)

LONDON — Processor IP licensor MIPS Technologies Inc. has announced a restructuring plan that will see it reduce headcount and incur a $1 million restructuring charge. The changes are expected to save company between $2 million and $2.4 million in annual expense, including the current financial year.

The move is being made to align the company's spending with current opportunities including Android-related mobile applications. The company began implementing the cuts on June 18 and expects it to complete within two months. The company stressed the move was "strategic" and not related to performance in the current quarter.

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