---
schema_version: "secwatch.filing_event.v1"
accession: "0000772406-23-000038"
form_type: "8-K"
ticker: "CRUS"
cik: "0000772406"
company_name: "CIRRUS LOGIC, INC."
filed_at: "2023-07-12T23:59:59+00:00"
generated_at: "2026-06-13T09:39:55.728531+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cirrus Logic cuts 5% of global workforce; CEO takes 10% pay cut

## Summary
- CEO John Forsyth voluntarily reduced base salary 10% from $728K to $655.2K, effective July 11, 2023.
- Company implements workforce reduction of approx. 5% of global employees due to market conditions and product cancellation.
- Cancelled product was previously scheduled for fall introduction and disclosed in FY2023 10-K.
- Expects to recognize charges related to workforce reduction in Q2 fiscal 2024.

## SEC filing metadata
- accession: 0000772406-23-000038
- form_type: 8-K
- ticker: CRUS
- cik: 0000772406
- company_name: CIRRUS LOGIC, INC.
- filed_at: 2023-07-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/772406/000077240623000038/0000772406-23-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/772406/000077240623000038/crus-20230711.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000772406-23-000038
- JSON: https://secwatch.observer/filing/0000772406-23-000038.json
- Plain text: https://secwatch.observer/filing/0000772406-23-000038.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.