Tuesday, January 28, 2014

Semtech Cuts Staff

Camarillo-based analog and mixed signal semiconductor manufacturer Semtech said late Monday that it is in the midst of a restructuring, and has cut approximately 6 percent of its workforce. Semtech did not say how many employees the move impacts. According to Semtech, the job cuts came due to a "significant reduction" in demand for its products in the second half of its fiscal 2014. The company said it expects to save approximately $35.0M annually via the restructuring.