National to cut 500 jobs

FEB.20–SANTA CLARA, Calif.–National Semiconductor Corp. has announced a restructuring plan, which will cut 500 out of its workforce of 10,000 and seek buyers for its information appliance and cellular baseband operations.

Officials at National estimated that cuts would provide $15 million in savings per quarter, starting in its fiscal fourth quarter, which ends in May.

The company also will expand its technology sharing and manufacturing alliance with Taiwan Semiconductor Manufacturing Co Ltd and expects to take $35 million to $45 million in charges for these actions in its third quarter.


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