According to an Associated Press report that cited financial-information service CapitalIQ, Micrel has 923 employees, meaning that the company plans to cut about 55.

Micrel (San Jose, Calif.) said it now projects fourth quarter revenue will be down about 18 to 20 percent from third quarter revenue of $65.5 million. The company has said it was expecting revenue to decline 7 to 13 percent.

Micrel said it now projects fourth quarter earnings per share of 6 to 8 cents, down from previous guidance calling for earnings per share of 8 to 11 cents.

Micrel said the shortfall in revenue is primarily a result of lower-than-anticipated OEM turns-fill orders and distribution resales occurring in late November and December. The turns-fill deficit resulted from reduced orders from both the OEM and distribution channels, the company said.

Micrel said its book-to-bill ratio for the fourth quarter was below one.