National Semiconductor Corp. announced it would eliminate approximately 130 positions across the company, primarily in product line and support functions. The company states that the action reflects a strategic aligning of its resources as part of its focus on accelerating revenue growth in key market areas that require better power management and energy efficiency.
In the current fourth fiscal quarter, which ends May 25, 2008, National expects to record approximately $10 million of charges primarily for severance, of which the vast majority relates to this action, and a small portion relates to the company’s factory modernization effort that was announced on January 21, 2008.
National, which currently employs approximately 7,300 people worldwide, is scheduled to announce its fourth quarter fiscal 2008 financial results and hold a conference call on June 5, 2008, at which time the company will also provide an outlook for the first quarter of fiscal 2009.
