CEVA announces cost-cutting measures

Services

Wednesday, November 28, 2012

Due to disappointing profit results for the third quarter of 2012, CEVA has announced plans to reduce costs and realign contracts in an effort to save 100 million euros ($129 million). “This was a disappointing quarter in terms of our profit performance,” CEVA Chief Executive Officer Marvin O. Schlanger said in a statement. Schlanger replaced the retiring John Pattullo last month. “Weak economic conditions continued to weigh on customer sentiment in the third qua...

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