The headquarters of technology company Imagination Technologies is seen on the outskirts of London, Britain, June 22, 2017.
REUTERS/Hannah McKay/File Photo Acquire Licensing RightsNov 13 (Reuters) - Chip technology design maker Imagination Technologies plans to lay off 20% of the company’s staff, according to sources familiar with the matter.
The cuts are company-wide and every unit will be affected, according to one of the sources.
Imagination Tech is owned by the private equity firm Canyon Bridge, which is backed by the Chinese state-owned China Reform holdings.
For last year, Imagination reported profit before tax of £17 million ($20.9 million) on revenue of £120.3 million, according to filings.
Persons:
Hannah McKay, Imagination, Max A, Chris Reese, Stephen Coates
Organizations:
Imagination Technologies, REUTERS, Apple, Reuters, Arm Holdings, Imagination Tech, China Reform, Imagination, Thomson
Locations:
London, Britain, China, San Francisco