Wednesday, November 5, 2008

Intersil Axes 9 Percent Of Staff

Milpitas-based Intersil is the latest firm to sharpen the axe, saying Wednesday that it will cut 9 percent of its global workforce due to current economic conditions. Intersil said the move was made to lower the firm's current and future operating expenses. The move affects approximately 140 employees, and will save the firm approximately $12M to $14M in annual costs. Intersil said it believed the steps were necessary because we are entering a period of "significant uncertainty." Intersil is a developer of analog semiconductors, including power regulators, battery management ICs, MOSFETs, and other electronics.