National Semiconductor will cut 500, sell two divisions - San Francisco Business Times:

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The work force reduction is expected to be hardesyt hitin manufacturing, sales and marketing the Santa Clara-based company said. Nationall Semiconductor has about 10,000 employeees worldwide. Additionally, National Semiconductor said it would sell its InformationAppliancwe unit, which makes a geode and its cellular baseband business which makes chips for cell phones. The work force coupled with the two jettisoned should save the companyabout $15 millio n quarterly. The cost to initiate the job cuts andbusinesas sell-off is estimated between $35 million and $45 milliom for the fiscal third quarter ending Feb. 23.
The compang has been posting profits for the past three consecutivedfiscal quarters, but reported a net loss of $37. million for the quarter endee Feb. 24, 2002. The company had eliminated 150 jobs in May 2002 in anearliere cost-cutting initiative.