Facebook Twitter LinkedIn Google Plus RSS

ANADIGICS restructuring, cutting 150 jobs

By ,

Warren-based ANADIGICS Inc., a radio frequency company, announced Thursday that it has restructured its business model to help reduce its operating costs and improve growth opportunities in its market.

The restructuring is expected to lower manufacturing and operating costs by more than $15 million annually, the company said in a news release. It also plans to eliminate approximately 150 positions, or 30 percent of its workforce.  The workforce restructuring is expected to save $2.3 million.

"With a strong infrastructure design-win trajectory, I'm pleased we're able to accelerate our strategy to expand in infrastructure markets, and with that, lower our fixed manufacturing and operating costs," Ron Michels, chairman and CEO of ANADIGICS, said in the release. "We believe that these steps, coupled with our previously announced $10 million cost-savings initiatives, should enable the company to deliver significant EBITDA improvements and profitability leverage from a lower breakeven revenue level."

The company expects revenues for the quarter ending June 28 to reach approximately $23 million, with infrastructure contributing to a larger percentage of revenue than previous quarters.


Jersey City apartment tower aims to blend arts with luxury living

Women-owned business logo to showcase on Walmart’s retail packaging

Despite incentive package, Dietz & Watson facility and jobs will leave N.J.

Also Popular on NJBIZ

Emily Bader

Emily Bader

Emily Bader is the Web Editor and Social Media Coordinator at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

Leave a Comment


Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy