Friday, December 12, 2008

Fairchild Semiconductor Lops 1,100

San Jose-based analog semiconductor maker Fairchild Semiconductor announced Friday that it is laying off approximately 1,100 people at the firm, or 12 percent of its staff, as part of a company wide restructuring. According to the firm, the moves are part of a bid to reduce operating expenses at the firm. The company said the cuts are expected to save the firm approximately $33M in annual payroll expenses. The firm will take a charge of $12 to $16M related to the restructuring.