National Semiconductor: Chips are down for a quarter of the workforce

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Computer chip maker National Semiconductor Corp. has today announced it will cut 1,725 jobs around the world, more than a quarter of its 6,500 strong workforce, because of falling demand in the economic downturn. The company said it will begin to cut 850 positions worldwide immediately in its product lines, marketing, manufacturing and support businesses. Another 875 jobs will be lost with the closure of facilities in Suzhou, China and Arlington, Texas over the next few quarters.   The Santa Clara, California-based chip maker said the layoffs will cost between $160 million and $180 million in severance and other charges, of which $130 million to $145 million will likely be recorded in the current fiscal quarter.  The cuts came as National recorded a 71 percent decline in its third-quarter earnings, posting a profit of $21.1 million, or 9 cents per share, compared with $72.9 million, or 29 cents per share, a year earlier. Quarterly sales fell more than a third from $453.4 million to $292.4 million.    *┬á┬á┬á┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á┬á┬á┬á *