National Semiconductor said Wednesday it would slash 1,725 jobs, or about one-fourth if its workforce, as earnings dropped sharply in its most recent quarter.
The Santa Clara, Calif.,-based company reported on Wednesday that its fiscal third-quarter profit plummeted 71 percent, to $21.1 million from $72.9 million a year ago. Revenue dropped 36 percent to $292.4 million.
Job cuts will take place across the company, which currently has a workforce of about 6,500, and will involve, in coming months, the shuttering of facilities in Arlington, Texas, and Suzhou, China.
The chipmaker will incur charges of $… Read more