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National to pursue strategic actions aimed at profitability

Posted: 27 Feb 2003 ?? ?Print Version ?Bookmark and Share

Keywords:national semiconductor? geode? processor? multimedia chip? cellular baseband?

National Semiconductor Corp. has announced a series of strategic profit-improvement actions that are designed to accelerate the company's return on investments and streamline its cost structure.

In an effort to increase its return on R&D spending, the company is seeking to sell its Information Appliance unit, consisting primarily of the Geode family of products, as well as its cellular baseband business. National has engaged outside advisers to assist in the process but in the meantime, the company will continue to operate these businesses and support customer programs.

National has also entered into a new long-term technology and manufacturing agreement with TSMC, establishing the latter as National's supplier of wafers for products with feature sizes at and below 0.155m.

In addition, the company will realign some manufacturing, product development, and support personnel as part of its overall plan to streamline National's cost structure. This move is expected to immediately reduce about 500 positions from the company's worldwide workforce of 10,000.

From a financial perspective, the initial actions are expected to result in savings of about $15 million per quarter.

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