National Semiconductor Corp., striving to cut its losses, announced Tuesday that it plans to close next February a chip-making plant in Danbury, Conn., that employs about 400 people.
The company said the closing is intended to reduce its excess manufacturing capacity, “particularly in older products and processes.” The plant makes transistors and other microelectronic products.
Some employees will be offered transfers and others will receive severance pay and job counseling.
National Semiconductor, which has 37,000 employees worldwide, reported a loss of $103 million on sales of $1.85 billion in the nine-month period that ended Feb. 26. In the third quarter alone it lost $44.6 million on revenue of $589 million.