Rambus to cut 21% of workforce

From Times Wire Reports

Rambus Inc., the Los Altos, Calif., memory-chip designer that has reported six consecutive quarterly losses, will eliminate 21% of its workforce in an effort to revive profit.

Rambus will cut 90 jobs, costing the company $4 million in severance costs and other expenses, it said. The plan, which will reduce the workforce to 340 by year’s end, will cut annual costs by about $17 million.

Rambus shares rose 12 cents to $16.20.