LSI Logic to Trim 600 Jobs, Close Plants
Bloomberg News
LSI Logic Corp., the largest maker of custom semiconductors, said it will fire 600 workers, or about 8% of its worldwide work force, as it consolidates plants to cope with declining sales.
The job reductions will be made mainly in Colorado Springs, Colo., where an aging plant will be closed by the end of October. A smaller facility in Santa Clara, Calif., also will be closed.
The company also reiterated its earlier forecast of a 31-cents-a-share loss for the third quarter with sales 10% to 15% lower than the second quarter’s $465.2 million.
Shares of Milpitas, Calif.-based LSI fell $1.49 to $12.66 on the Big Board.
