National Semiconductor Layoffs Job Cut: fires 1725 employees: Finance Trading Times

National Semiconductor Layoffs Job Cut: fires 1725 employees

The news is not good for the employees of National Semiconductor , which is a major chip maker electronics company. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. The latest additon to the list of organization which may go for layoffs is the National Semiconductor Publishers. It has declared that it will layoff some 1725 workers. National Semiconductor Logo

How many employees may be fired in the National Semiconductor layoffs?
The news is that around 1725 employees may be fired from their jobs at National Semiconductor.

What is the total no. of employees of National Semiconductor?
Total No. of employees of National Semiconductor is around 6500 as of now. Hence, the layoffs will constitue around 25% of the total workforce.

When will the National Semiconductor layoffs happen?
As per the reports, around 850 layoffs are already done. Remaining 875 layoffs will be done in the next few quarters in a phased manner across the globe.

Which locations will be affected by the National Semiconductor layoffs ?
There will be closure of facilities in Suzhou, China, and Arlington, Texas

Any details about the charges and savings to be made by layoffs?
The good news for the affected employees is that the company will be offering severance package. The layoffs will cost $160 million to $180 million in severance and other charges, $130 million to $145 million.

What is the primary reasons for National Semiconductor layoffs?
The company is laying off because of recession. National recorded a 71 percent decline in its third-quarter earnings, posting a profit of $21.1 million, or 9 cents per share, compared with $72.9 million, or 29 cents per share, a year earlier.

Any other news about National Semiconductor layoffs
As per CNBC, "The worldwide recession has impacted National's business as demand has fallen considerably," Chief Executive Brian L. Halla said
Let's hope that alternative jobs are available to the affected employees of National Semiconductor Layoffs Job Cut
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