Suffering amid the IC downturn, Avago Technologies Pte. Ltd. said that it has cut 200 more jobs.

Since the beginning of fiscal year 2009, Singapore's Avago has cut its workforce by approximately 475 employees, or 13 percent through attrition and restructuring. In January, the company also cut jobs, it was noted.

The company expects to record charges of approximately $8-to-$10 million, which will be primarily cash charges, for the latest reduction. Approximately $3-to-$5 million of these charges will be reflected in the financial results for the third quarter of fiscal 2009, ending August 2.

The remainder will be included in the financial results for fourth quarter of fiscal 2009, ending Nov. 1.

Last year, Avago--the chip spin-off of Agilent Technologies Inc.--filed for an initial public offering (IPO) in the United States. Since the IPO, the company has experienced a tough time.

For its first quarter of fiscal year 2009, ended Feb. 1, revenue was $368 million, a decline of 17.7 percent when compared with the previous quarter, and down 8.5 percent from the same quarter last year. Net income was $37 million, down from $52 million last quarter.

By: DocMemory
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