Wednesday, October 22, 2008

Waiting for the Other Shoe to Drop

Cadence was supposed to announce quarterly financial results this afternoon, but they've found some "revenue recognition" questions resulting in a postponement: Cadence Announces Accounting Review and Postpones Release of Third Quarter 2008 Financial Results and Webcast

More ominously, there is wide speculation about job cuts coming to Cadence. Actually, the only "speculation" seems to be how bad it will be, whether 10-15% or as much as 25%. Scenarios are describe in Analysis: With Fister gone, Cadence layoffs may be next.

I don't know how the mood is outside of Silicon Valley or the US, but there's definitely a pallor over our industry and the economy in general. It seems like most all the EDA companies have had cuts or are planning them, and things aren't much better for their semiconductor-designing customers. At best, some companies are doing very selective hiring.

Good luck to all, and let's hope this rough spot doesn't become a quagmire.

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