---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-22-007746"
form_type: "8-K"
ticker: "GSIT"
cik: "0001126741"
company_name: "GSI TECHNOLOGY INC"
filed_at: "2022-11-30T23:59:59+00:00"
generated_at: "2026-06-21T11:28:22.232533+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# GSI Technology announces cost reduction plan cutting 15% of workforce, expects $7M annual savings

## Summary
- Global workforce reduced by approximately 15%; annualized operating expense savings of $7.0M expected by mid-2023.
- Termination costs of $850,000 anticipated, primarily cash expenditures in current fiscal year.
- CEO and VP Engineering take 30% base salary reduction; CFO, VP Sales, VP US Operations take 10% reduction.
- Option grants: CEO 150,000, VP Engineering 60,000, CFO 20,000, VP Sales 20,000, VP US Ops 15,000.
- Gemini-I launch and Gemini-II development remain top priorities; R&D cuts do not affect core APU work.

## SEC filing metadata
- accession: 0001171843-22-007746
- form_type: 8-K
- ticker: GSIT
- cik: 0001126741
- company_name: GSI TECHNOLOGY INC
- filed_at: 2022-11-30T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1126741/000117184322007746/0001171843-22-007746-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126741/000117184322007746/f8k_113022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-22-007746
- JSON: https://secwatch.observer/filing/0001171843-22-007746.json
- Plain text: https://secwatch.observer/filing/0001171843-22-007746.txt

## Key facts
- Restructurings & Charges
  GSI TECHNOLOGY INC announced a restructuring with charges of $850,000 in termination costs (an approximate 15% decrease in the Company's global workforce).
  - Type: restructuring
  - Charge: $850,000 in termination costs
  - Headcount: an approximate 15% decrease in the Company's global workforce
  source text: On November 30, 2022, the Board of Directors of GSI Technology, Inc. (the “Company”) approved and ratified a series of strategic cost reduction initiatives intended to better align the Company’s operational structure with its near-term and long-term goals (the “Cost Reduction Initiatives”). The Company expects the Cost Reduction Initiatives to be completed by mid-2023. The Cost Reduction Initiatives are expected to reduce the Company’s operating expenses by approximately $7.0 million on an annualized basis, primarily as a result of an approximate 15% decrease in the Company’s global workforce, salary decreases for certain retained employees, as well as targeted reductions in research and development spending. In connection with the Cost Reduction Initiatives, the Company anticipates incurring $850,000 in termination costs, including the payout of accrued vacation, which will require cash expenditures, most of which are expected to be incurred in the current fiscal year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126741/000117184322007746/0001171843-22-007746-index.htm

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