Actually I hear the layoff will be 550-700 people to help reduce expenses. These folks will come from product lines that are not profitable, Manufacturing, IT, and HR. Historicly ADI has not touched R & D so it isn't likely they will this time. However it is about time that they cleaned out there IT department since most of the senior management there are incompentent, and probably the new CFO since he is their new boss is starting to realize it. Hopefully the new CFO will realize that the corporate Director of IT and his cronies are a serious problem to the company and will clean house. They have a large number of IT personal and continue to out source or hire consultants for everything that most companies handle internaly, which costs the company hundreds of millions. I also think investors are aware of the problems with the CEO and his cronies and the games they play to benifit themselves, very similar to what the CEO's at the major finanial institutes have played and are now paying the price. Personaly I plan on buying May puts to short the company since I believe that by then the stock will have dropped to $10 a share or less. All the stock buy back games, accounting games, and expense reductions most likely will not save this company. I think investors have finaly smarten up and will price this stock where it belongs at $10 or less.