Mentor Graphics Pakistan lays off dozens of employees amidst cost-cutting wave
Over 20 employees were laid off this week amidst a major restructuring going on at the organization.
It has been brought to our notice that Mentor Graphics Pakistan is going through a restructuring at the moment in order to cut down the costs. In lieu of this, dozens of employees from Mentor Graphics Lahore office have been asked to leave without any prior notice.
According to multiple sources, more than 20 employees have been laid off from engineering and management department; 17 to 18 people from engineering and 4 to 5 people from the management. The higher management might have known this beforehand but the impacted employees found the notice without any prior hint or warning. The laid-off employees have been given a 3 months salary and for the next three months, other employment benefits will last as well.
Mentor Graphics has a team of almost 150 in their office in Lahore but the recent incident has resulted into an air of uncertainty. Especially the engineering department employees are concerned about their future with the organization.
Mentor Graphics was recently acquired by Siemens in a $3.5 billion deal. The restructuring was expected and has still been going on.
TechJuice did reach out to the HR department of Mentor Graphics to get an official statement but they have denied sharing any information regarding this matter.