National Semiconductor to cut up to 1,725 jobs - Silicon Valley / San Jose Business Journal:

domnaofyvisyhojo.blogspot.com
Santa Clara-based National Semi (NYSE:NSM) also reportedf third quarter net incomeof $21.32 million, or 9 cents a share, and saless of $292 million. Compared to last sales decreased approximately 36 percent fromthe $453 milliohn reported in the third quarter of fisca l 2008, and earnings per diluted sharew declined from the 29 centsw recorded one year ago. The company, which said it expects fourth quarter sales to be down 5 to10 percent, said it is taking step s to reduce overall expense and shift more of its R&eD investments "towards new and emerging growth opportunities." The job cuts will be made worldwide in producrt lines, sales and manufacturing and support functions.
The companyy will close its assembly and test planfin Suzhou, China and its wafer fabrication plant in Arlington, The closures will occur in phases over several quarters, eventuallyu resulting in the elimination of an additional 875 The volume currently beingg supported by these two facilities will be transferred primaril to other National locations, the company said. Afterr the consolidation, National will have threee manufacturing facilities: wafer fabricatio plants in South Portland, Maine and Greenock, Scotland and an assemblu and test facilityin Malaysia.
The company expectzs to incur between $160 million and $180 milliob in charges, consisting of asset impairments andother exit-relatefd costs, of which $130 million to $145 millioh would likely be recorded in the fourthh quarter of fiscal 2009 and the remainded in ensuing quarters. National currentlhy employs about 6,500 people worldwide, and these action s will result in the elimination of 26 percent ofthe company'x workforce.