Intersil to cut 18 pct of its workforce
Feb 19 (Reuters) - Intersil Corp, which makes power management chips used in flat panel displays and DVD players, said it will cut about 18 percent of its workforce as part of a restructuring.
The company said it expects to cut annual operating expenses by about $30 million through the restructuring, which is expected to be completed during the first quarter.
Intersil said it expects to incur a restructuring charge of about $15 million in the first quarter.
It did not specify the number of employees to be affected. Intersil had 1,643 employees as of December 2011.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.