Alexa
  • Directory of Taiwan

Semiconductor maker Micronas to cut 100 jobs in California in restructuring efforts

Semiconductor maker Micronas to cut 100 jobs in California in restructuring efforts

Semiconductor maker Micronas said Friday it will cut 100 jobs in its Santa Clara, California, subsidiary as part of a restructuring program.
The company, based in Zurich, Switzerland, said in a statement it decided to stop its business of set top boxes for internet television, which will lead to the job cuts in the United States. Another 20 jobs will be cut in Shanghai, China.
Micronas said in October that it was planning to sell its U.S. subsidiary as part of efforts to streamline its product portfolio and revamp its research and development activities.
The company said then that it expected a net loss of between 560 million Swiss francs and 585 million francs (between US$488 million and US$510 million; between euro336 million and euro351 million) for 2007.
The discontinuation of its business of set top boxes for IPTV is expected to be completed during the first quarter of 2008, Micronas said.
The cost for the move is part of the overall restructuring cost of 50 million to 70 million francs (US$44 million to US$61 million; (euro30 million to euro42 million), the company said.
Shares in Micronas closed up 0.9 percent at 11.30 francs (US$9.84; euro6.78) in Zurich.


Updated : 2021-04-19 20:53 GMT+08:00