National Semiconductor to Cut 25% of Work Force After Posting Lower Profit on Major Sales Decline, an Industrial Info News Alert

SUGAR LAND, TX -- (MARKET WIRE) -- Mar 13, 2009 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- National Semiconductor Corporation (NYSE:NSM) (Santa Clara, California), a manufacturer of chips for mobile phones, has announced that it will cut one-fourth of its work force, or about 1,700 people, after posting a $21.1 million profit in 3Q09, down 71% compared with the same period of the previous year. Sales dropped 35.5% from $453.4 million to $292.4 million. The company is closing manufacturing facilities in Arlington, Texas, and Suzhou, Jiangsu province, and plans to cut 850 positions immediately and 875 more over the next several quarters, Chairman and CEO Brian Halla said.

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