In light of revenue shortfalls that emerged after its acquisition of Ansys, along with the hurdles brought about by the slowdown in the Chinese market, Synopsys has formulated a plan to lay off 10% of its workforce (which amounts to roughly 2,000 employees). The primary goal of this move is to reallocate investments. It is anticipated that this workforce reduction will lead to expenses ranging from $300 million to $350 million. The company has set a target to complete its restructuring plan by the end of fiscal year 2027.
