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Skyworks to cut 10 percent of workforce in restructuring move |
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Oct 03, 2006 at 11:55 AM |
Skyworks is reducing its workforce by 425 - around 10 percent of its worldwide workforce - as part of a product consolidation plan and the exit from the baseband mobile phone market. These actions are expected to result in charges of between $85 and $95 million, the company announced.
"Today marks a new beginning for Skyworks as we become a far more profitable and streamlined company. We are focusing exclusively on our high growth and profitable analog and RF core business where Skyworks possesses a clear competitive advantage," said David J. Aldrich, Skyworks' president and chief executive officer. "Going forward, we will partner with, rather than compete against, leading baseband suppliers such as Texas Instruments, Qualcomm, Freescale and Infineon."
Following the exit of the baseband business, the company plans to deliver fiscal 2007 revenue of $820 to $840 million, an increase in the core business of nearly 15 percent year-over-year.
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