Aspec Technology Announces Reduction in Workforce.SUNNYVALE Sunnyvale, city (1990 pop. 117,229), Santa Clara co., W Calif., near San Francisco; settled 1849, inc. 1912. A city in Silicon Valley, its many manufactures include semiconductors; machinery and instruments; electrical, electronic, and aerospace products; , Calif.--(BUSINESS WIRE)--Oct. 28, 1998--Aspec Technology, Inc. (Nasdaq:ASPCE) today announced that it has reduced its workforce by approximately 10 percent as part of a Company reorganization and strategy to control costs.
The action has been taken to address changes in the semiconductor intellectual property (SIP (1) (Session Initiation Protocol) An IP telephony signaling protocol developed by the IETF. Primarily used for voice over IP (VoIP) calls, SIP can also be used for video or any media type; for example, SIP has been used to set up multi-player Quake games. ) market and the continued downturn Downturn
The transition point between a rising, expanding economy to a falling, contracting one.
A decline in security prices or economic activity following a period of rising or stable prices or activity. in the semiconductor industry.
A total of approximately 20 positions have been eliminated, the majority of which are at the Company's Sunnyvale headquarters. All affected employees have been notified. As a result of the workforce reduction, Aspec has eliminated the positions of Chief Operating Officer/Chief Financial Officer, Vice President of Worldwide Sales, Vice President of Foundry A semiconductor manufacturer that makes chips for third parties. It may be a large chip maker that sells its excess manufacturing capacity or one that makes chips exclusively for other companies. and Technology Services, Vice President of Engineering Services, as well as other support positions in the Company. Aspec will be providing career transition services to those employees affected by this action.
About Aspec Technology
Aspec Technology, Inc. (Nasdaq:ASPCE) is a leading independent provider of semiconductor intellectual property (SIP) libraries and design services for complex IC (Integrated Circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for ) design and development. Aspec customers can significantly reduce the development time and costs associated with bringing deep sub-micron IC designs to successful silicon fabrication fabrication (fab´rikā´shn),
n the construction or making of a restoration. . Aspec's verifiable physical IP libraries provide customers with the essential building blocks for developing complex ICs and system-on-chip (SOC (System On a Chip) The electronics for a complete, working product contained on a single chip. While a microcontroller includes all the hardware components required to process instructions, an SoC includes the computer and all required ancillary electronics. ) products. The Company offers cell-based foundation IP, including I/Os, memories, macrocells, and core cells and complex functions that are tuned to each manufacturer*s process. Aspec's SIP libraries and design services are used by the leading ASIC/IC/ASSP companies, electronic systems design companies and semiconductor foundries worldwide. Aspec is located at 830 East Arques Avenue, Sunnyvale, CA 94086. More information is available at http://www.aspec.com.