— Xilinx expects to reduce its global workforce by approximately 7% through a targeted reduction in force and meaningfully slower hiring to replace attrition.
— Q4 revenues are expected to be in the range of $750 million to $780 million.
— Revenue in the fourth quarter is expected to grow on a sequential basis.
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— The company expects greater than expected weakness in the wired and wireless business in Q4 due to a slowdown in both 5G and wired infrastructure deployments, in addition to ongoing global trade headwinds.
— Xilinix stock was down about 8% immediately after the earnings announcement.