Thursday, February 20, 2003
National Semiconductor Corp. said it will reduce 500 jobs or 5% of its work force and take a charges of $35 million to $45 million as part of a restructuring.
The company also said it will sell off its Information Appliance business, the Geode family of products and its cellular baseband business. But it will continue to operate and support the businesses in the meantime.
The restructuring is designed to accelerate the company's return on investments, streamline its cost structure and increase its return on research and development spending, National Semiconductor said.
It expects to save about $15 million per quarter starting in the fiscal fourth quarter, which ends in late May.
By: DocMemory
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