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Technology Stocks : C-Cube

CUBE 36.98

-1.8%

Nov 3 3:59 PM EST

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To: Tim Michaels who started this subject	6/21/2001 12:35:33 PM
From: DiViT	Read Replies (1) of 50808

LSI Logic says to lay off 225, 3 pct of work force SAN FRANCISCO, June 20 (Reuters) - Microchip maker LSI Logic Corp. (NYSE:LSI - news) said on Wednesday that it would lay off about 3 percent of its global work force of 7,700 as part of an ongoing program of cost-cutting. The job cuts will not be targeted at any single operation, although 50 of the planned 225 layoffs were the result of the Milpitas, Calif.-based company's $851-million acquisition of C-Cube Microsystems, which provides technology for set-top boxes for digital television, a spokesman for LSI Logic told Reuters. ``This is the latest of our cost-cutting measures that we have been implementing for some time,'' said Kevin Brett, a spokesman for LSI Logic. LSI Logic said earlier this week that it had reached a deal to sell its Colorado Springs, Colo.-semiconductor manufacturing plant to Germany's X-FAB Semiconductor Foundries AG for about $120 million. LSI Logic had said last April that it would close the Colorado plant due to a glut in the market for communications chips.

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