Feeds

Nat Semi to eliminate 10% of staff

Cost-cutting move follows big dip in sales

  • alert
  • submit to reddit

Internet Security Threat Report 2014

National Semiconductor has said it will rid itself of 1100 workers in a bid to cut costs after it emerged the chip company's Q4 2001 sales will miss the target by up to 18 per cent.

The job cuts amount to ten per cent of Nat Semi's worldwide workforce. Some 800 staffers will go, through redundancies and retirements, along with around 128 contractors. The jobs will be eliminated this quarter. Since it ends on 27 May, affected workers will be receiving their pink slips any day now.

The costs of reducing its headcount, along with other expenses arising from the cost-cutting programme, is expected to be $25-30 million, but the result will be a $70-80 million saving over the coming fiscal year.

Nat Semi now expects to report sales of $390-400 million for the current year's final quarter, rather less than the $427 million Wall Street had been expecting. The cost of the redundancies plus $10-12 million worth of stock writedowns should knock the company into the red, break-even at best. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.