National Semiconductor to Cut Workforce
Chip maker cutting about 5 percent of its workforce and selling two business units.Chip maker National Semiconductor Corp. is cutting about 5 percent of its workforce and selling two business units in an effort to save money and streamline operations. National Semiconductor will cut about 500 jobs from its global workforce of about 10,000, the Santa Clara, Calif., company announced on Thursday. The company also is looking to sell its Information Appliance unitwhich primarily comprises its Geode family of processors for various electronic devicesand its cellular baseband business. National Semiconductor has hired outside advisers to help with the sale, company officials said.
In a prepared statement, CEO Brian Halla said that while these businesses have a strong future, National Semiconductor could no longer invest in them while waiting for the markets to grow.