Silicon Valley’s own SGI (Silicon Graphics International) announced that CFO, Jim Wheat, has turned in his resignation papers and will be leaving SGI. This major change comes just less than 90 days from SGI hiring new CEO and President Jorge Titinger. The company has been going through a reorganization since Titinger came in as CEO and announced, "I am excited to be part of the new SGI, building on one of Silicon Valley's great brands and fully exploiting the opportunities in HPC, Big Data and the Cloud."
Fremont-based Silicon Graphics International has decided to cut 25% of its workforce in Europe in a quest to reduce operating expenses in the economically struggling European region. This announcement comes just less than a month after the appointment of Jorge Titinger as SGI’s president and chief executive officer. Along with the 25% of their European workforce that’s reduced will be certain legal entities and SGI offices which will allow for a realignment of staff and operations.
The High Performance Computing Market overcame a poor 2009 with a 22 percent growth in 2010. Both IDC and Intersect360 Research predict a consistent 7% growth for the next 5 years reaching a $36B market by 2015. (Image: IDC - HPC Market Share)