Zarlink appoints CEO, plans cutbacks

February 17, 2005 – Ottawa, Ontario-based semiconductor solutions supplier Zarlink Semiconductor Inc. has officially named interim president and CEO Kirk Mandy as the permanent replacement for Patrick Brockett, who resigned on Jan. 26. In a parallel statement regarding 4Q04 forecasts, the company also announced that it will downsize its workforce by 15% and stop R&D on programs involving products that are not generating revenue — one of which was a digital video decoder. According to the forecasts, Zarlink expects to see revenues between US$47 million and $49 million, while posting a loss of between $0.19 and $0.21/share, which will reflect the cost-cutting measures. The cuts are expected to save $20 million annually.


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