BILLERICA, Mass. - Citing the ongoing IC downturn, Sipex Corp. plans to slash its workforce by 15% and will reduce its chip production at outside silicon foundry providers.
Instead of using outside foundries, the supplier of analog and mixed-signal chips will boost the production in its own fab by 30%. The move will save the company about $3 million per quarter.
In addition, the company will take a charge of $500,000 in the quarter. It will be shutting down its manufacturing operations for some period in the company's third quarter.