The layoffs come as part of cost-saving measures the company says it will undertake to strengthen their financial profile by better aligning their cost structure to their business mix and long-term strategy.

British tech magnate Mike Lynch has been cleared of charges alleging he orchestrated a fraud and conspiracy leading up to an $11 billion deal that turned into a costly albatross for Silicon Valley pioneer Hewlett Packard.

Federal prosecutors have painted one-time British tech star Mike Lynch as the ruthless mastermind of an $11 billion deal that defrauded Silicon Valley pioneer Hewlett Packard.