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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (10608)	6/13/2001 10:54:27 AM
From: Jane4IceCream	Read Replies (1) \| Respond to of 19633

Okay trying APL again at 34.50 -Jane-

To: Tom Hua who wrote (10608)	6/13/2001 11:49:34 AM
From: gladman	Respond to of 19633

I'm betting IDT will make my list soon...June 13, 2001 Integrated Device Technology To Cut 18% of its Work Force Dow Jones Newswires SANTA CLARA, Calif. -- Integrated Device Technology Inc., battered by weak chip sales, said it will cut about 900 positions, or 18% of its work force, resulting in a one-time charge of $2.5 million in its fiscal first quarter. IDT on Wednesday said it expects the job cuts to produce annual run-rate savings of $11 million after the charge. Most of the job cuts, which the company plans to complete by the end of June, will be made at the company's overseas manufacturing facilities. IDT currently has 4,900 employees. "The industrywide inventory correction and slowdown in customer demand necessitate that IDT adjust its operating costs and production capability to levels currently required by the markets we serve," Jerry Taylor, president and chief executive, said in a prepared statement. The cuts follow IDT's dismal fiscal first-quarter revenue outlook announced last month. The chip maker now expects to post revenue of $120 million for the period ending July 2, down 44% from revenue of $213 million in its fiscal fourth quarter as a result of ongoing inventory reductions by its customers. Before the revision, analysts surveyed by Thomson Financial/First Call had expected revenue of $152.8 million.