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Aspec Technology Announces Reduction in Workforce.

SUNNYVALE, 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) market and the continued downturn 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 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) 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. Aspec's verifiable physical IP libraries provide customers with the essential building blocks for developing complex ICs and system-on-chip (SOC) 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.
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Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Oct 29, 1998
Words:280
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