SAN JOSE, Calif., April 27, 2016 /PRNewswire/ -- Cadence Design Systems, Inc. (NASDAQ: CDNS) today announced that it has been named by Fortune magazine and Great Place to Work® to the list of 50 Best Workplaces for Giving Back. The recognition underscores Cadence's commitment to participating in charitable endeavors and empowering its team to build deeper connections with the community.
"Giving to and engaging with the communities where we live and work has always been an essential part of our culture," said Lip-Bu Tan, president and CEO of Cadence. "This recognition and company commitment would not be possible without our employees' passion for giving back. Together, we are making a difference in our communities."
In the past year, Cadence launched its Volunteer Time Off (VTO) program, expanded its Global Matching Gift Program and donated Cadence products to hundreds of universities globally. Since the VTO program launched in 2015, employees have volunteered 1,939 days during company time using this new benefit.
"The Best Workplaces for Giving Back demonstrate more than just a commitment to charity," said Kim Peters, executive vice president at Great Place to Work®. "These organizations have earned employees' admiration by involving staffers in their community service efforts and contributing resources in ways that genuinely reflect their unique cultures."
This recognition is the seventh Great Place to Work award that Cadence has garnered worldwide in 2016. For more information about Cadence's 50 Best Workplaces for Giving Back recognition, please visit http://www.cadence.com/news/gptwgivingback.
Great Place to Work® analyzed surveys from nearly 600 companies to rank those that best create a sense of purpose and meaning among their employees through involvement in the community. Not only do these workplaces stand out for their generosity, their team members also express a great deal of pride in what their organizations accomplish.
The Best Workplaces for Giving Back took into consideration feedback from about 240,000 employees in a diverse range of industries, as well as their companies' volunteer programs and charitable giving relative to revenue.
Cadence enables global electronic design innovation and plays an essential role in the creation of today's integrated circuits and electronics. Customers use Cadence software, hardware, IP and services to design and verify advanced semiconductors, consumer electronics, networking and telecommunications equipment, and computer systems. The company is headquartered in San Jose, Calif., with sales offices, design centers and research facilities around the world to serve the global electronics industry. More information about the company, its products and its services is available at www.cadence.com.
About Great Place to Work®
Great Place to Work® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, including Best Workplaces lists and workplace reviews, Great Place to Work® provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures. In the United States, Great Place to Work® produces the annual Fortune "100 Best Companies to Work For®" and a series of Great Place to Work® Best Workplaces lists, including lists for Millennials, Women, Diversity, Small and Medium Companies and over a half dozen different industries.
© 2016 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence and the Cadence logo are registered trademarks of Cadence Design Systems, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.
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SOURCE Cadence Design Systems, Inc.