Wednesday, December 3, 2008

Intersil Cuts 9 Percent of Staff, Reduces Outlook

Milpitas-based Intersil, a manufacturer of analog semiconductors, said Wednesday that it has made a 9 percent "reduction in force," as part of a strict control of its operating expenses and a downward revision in its quarterly revenue. According to the firm, it estimates a decline of 38 to 43 percent in its fourth quarter revenue, a significant increase from previous guidance, where the firm estimated a decline of 20 to 25 percent from the third quarter. Intersil said the reduced estimates as a result of the deteriorating global economy. The firm also said that its CFO, David Zinsner, has resigned, with his duties being assumed by Jonathan Kennedy.