Layoffs at iPod chipmaker

PortalPlayer, whose chip powers Apple Computer's iPod MP3 device, cut an undisclosed number of jobs last month. PortalPlayer Vice President Michael Maia confirmed that layoffs took place a couple of weeks ago, but would not say how many jobs were cut. "We're just getting expenses a little more in line with revenue," said Maia, who added that the company hopes to reach a break-even level by this year's third quarter.

The company is also looking for a new chief executive to replace John Mallard who left in December. In addition to powering the iPod, PortalPlayer's technology is used in products from RCA and Samsung.