Semtech Lays Off 37 in Cost-Cutting Move

Semtech, a financially ailing semiconductor maker, laid off 37 employees last week as part of a cost-cutting campaign, the company said Monday.

The cutbacks affect 25 production workers and 12 from other departments, the Newbury Park-based company said in a prepared statement. Semtech now has 227 employees.

Semtech released earnings figures this month for its third quarter ended Nov. 2 showing sharply reduced losses on 10% higher sales. The company has attributed its improved performance to more efficient manufacturing and administrative operations.

Semtech posted a net loss of $195,000, or 11 cents per share, on sales of $3.4 million. During last year’s corresponding quarter, the company lost $389,000, or 21 cents per share, on sales of $3.1 million.