Parthus may shed jobs

Irish chip designer, Parthus may shed a number of jobs from its operations following the closure of two of its product lines.

The company has said that it plans to streamline its operations in preparation of the completion of the merger with Israeli based Ceva.

The company also announced a date for the EGM, when shareholders can vote on the proposed merger.

The merger, if approved will see Parthus own a 50% stake in the new company, ParthusCeva.

Parthus employs 350 in its global operations, more than half of whom work in the company's Irish operations in Dublin, Cork and Limerick.