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24
May
2012
2012
Intersil lays off 11% of workforce
The restructuring plan includes a reduction of approximately 11% of Intersil's worldwide workforce and a reduction of approximately $40 million in annual operating expenses.
On May 21, 2012, the Board of Directors of Intersil Corporation approved a restructuring plan to focus the "company on its Top Ten Growth Drivers and revise its target operating model."
The restructuring plan includes a reduction of approximately 11% of Intersil's worldwide workforce and a reduction of approximately $40 million in annual operating expenses. The company expects to recognize restructuring-related charges of approximately $9 million, consisting primarily of employee severance benefits, during the second quarter of 2012.
Intersil employed 1'643 workers as of December 31, 2011.
The restructuring plan includes a reduction of approximately 11% of Intersil's worldwide workforce and a reduction of approximately $40 million in annual operating expenses. The company expects to recognize restructuring-related charges of approximately $9 million, consisting primarily of employee severance benefits, during the second quarter of 2012.
Intersil employed 1'643 workers as of December 31, 2011.
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