National Semiconductor to cut up to 1,725 jobs - Silicon Valley / San Jose Business Journal:

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Santa Clara-based National Semi (NYSE:NSM) also reported thirrd quarter net incomeof $21.2 or 9 cents a share, and sales of $292 Compared to last year, sales decreased approximately 36 percent from the $453 million reportedr in the third quarter of fiscal 2008, and earningds per diluted share declined from the 29 cents recorde d one year ago. The company, which said it expects fourth quarte sales to be down 5 to10 percent, said it is takingg steps to reduce overall expenses and shifr more of its R&D investmentd "towards new and emerging growth opportunities." The job cuts will be made worldwid e in product lines, sales and marketing, manufacturing and support functions.
The companyg will close its assembly and test plant in China and its wafer fabrication plantin Texas. The closures will occufr in phases overseveral quarters, eventually resulting in the eliminatio of an additional 875 The volume currently being supported by thesde two facilities will be transferred primarilh to other National locations, the company said. Afterr the consolidation, National will have thres manufacturing facilities: wafer fabrication plante in South Portland, Maine and Scotland and an assembly and test facilityin Malaysia.
The company expectd to incur between $160 million and $180 million in consisting of severances, asset impairments and othe exit-related costs, of whicbh $130 million to $145 milliohn would likely be recorded in the fourth quarter of fiscal 2009 and the remainder inensuingf quarters. National currently employs about 6,500 people worldwide, and these actionz will result in the elimination of 26 percent ofthe company'ws workforce.