Fairchild to cut 1,100 jobs
Fairchild Semiconductor said today it is restructuring and will reduce its worldwide workforce by 12%, or 1,100 jobs.
The South Portland-based semiconductor manufacturer has manufacturing sites in the United States and Asia and employs approximately 900 in Maine. Patti Olson, a spokesperson for the company, told Mainebiz this morning that she couldn't talk about how the restructuring will affect its Maine workforce because employees will be notified over the next month and she didn't want to affect any employee decisions. She said some employees are being offered voluntary buyouts and that will determine how many jobs will be cut. "I would expect by mid to the end of January we'll probably know the impact to the local community," she said.
Fairchild also revised downward its fourth quarter financial estimates. The company now expects $320 million in sales for the quarter, a 26% decrease from the roughly $338 million to $360 million sales for the same quarter last year.
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