Fairchild Semiconductor Closing Facilities in Utah and Malaysia - Eliminating 1,350 Jobs in US and Asia

http://www.standard.net/Business/2014/08/25/Fairchild-Semiconductor-cutting-1-350-jobs.html


Chip supplier Fairchild Semiconductor is eliminating about 1,350 jobs in the U.S. and Asia — about 15 percent of its total workforce — to reduce costs.
The company said Monday that it will close facilities in Utah and Malaysia and will shut down five-inch wafer fabrication lines in South Korea. Fairchild said it will take charges of $36 million in restructuring and $25 million in depreciation, but the closures are expected to save Fairchild $45 million to $55 million a year.
The San Jose, California-based company said it will close the facilities between the second and fourth quarters of 2015. The Utah facility in West Jordan employs about 500, according to the company’s website.
Fairchild Semiconductor International Inc. shares fell 10 cents to $16.92 in midday trading. The stock has gained 36 percent over the last 12 months.