O2Micro To Reduce Worldwide Employee Base By About 80 Employees - Quick Facts

(RTTNews) - O2Micro International Limited (OIIM) announced Monday that it is refocusing the Company's Intelligent Power Management Business Unit to better align its resources to focus on its new tablet and smartphone Power Management products.

The company is reducing its current worldwide employee base by about 80 employees. The majority of the employees affected by this announcement are based in the Company's European and U.S. locations. Additionally, the company expects to lower its overall operating expenses by about $3.5 Million to $4.5 Million throughout the 2015 fiscal year.

"The workforce reduction of the Intelligent Power Management Group demonstrates our focus on smartphone and tablet markets, commitment to enhancing shareholder value, while simultaneously sharpening our strategic and financial focus," said Sterling Du, O2Micro's Chairman and CEO.

O2Micro said it will provide additional details related to the financial impact of this announcement when it reports fourth quarter and fiscal year ending December 31, 2014, financial results. The result is tentatively scheduled for February 4, 2015.