Pixelworks Announces 16% Workforce Reduction Amid Financial Restructuring

Pixelworks (NASDAQ:PXLW) will reduce its workforce by approximately 16%, impacting operations, R&D, sales, marketing, and administration. The layoffs aim to realign expenses with revenue levels, resulting in estimated restructuring charges of $1.7M in Q2. The restructuring is expected to save $4M annually and complete by the end of the quarter.