SAN JOSE, Calif. -- Analog chip maker Maxim Integrated Products Inc. has cut jobs amid a loss, according to an analyst.
''Given the poor demand environment, Maxim is pursuing some cost-reduction actions, including reducing headcount by 140, pursuing unpaid time off, and other measures, resulting in $25 million of quarterly operating expense savings through June,'' said Craig Berger, an analyst with FBR, in a report. ''In addition, the firm expects to close its Dallas facility by June, resulting in $10 million of quarterly cost of sales savings beginning in calendar 3Q.''
Maxim also reported net revenue of $410.7 million for its fiscal 2009 second quarter ending Dec. 27, 2008, an 18 percent decline from the $501.2 million revenue recorded in the previous quarter. In the like period a year ago, it posted sales of $540 million.
It posted a loss of $38.9 million in the quarter, compared to a profit of $67.6 million in the previous quarter and a profit of $107 million a year ago.
In its current quarter, sales are expected to be between $290-to-$330 million.