SAN JOSE, Calif. -- Fairchild Semiconductor plans to close two fabs and eliminate at least 200 jobs in an effort to cut costs.
Hit hard by the downturn, San Jose-based Fairchild will close its wafer fabrication plant in Mountaintop, Penn., and will shutter that site. In addition, roughly 200 jobs will be eliminated at the Mountaintop site.
It will also close one of its fabs in Bucheon, South Korea. The South Korea site will close its 4-inch line and transfer associated manufacturing to its 5- and 6-inch wafer fabs.
Most products currently made at the Mountaintop-based fab will be transferred to other internal sites. A small office will be maintained for technology and product line functions in the Mountaintop area.
The moves reduce the number of fabs in the company from six to four, and the number of front-end manufacturing sites from four to three. It also represents the second layoff for the company in recent months.
The company anticipates the consolidation of the South Korea fabrication processes and the closure of the Mountaintop facility will be completed by June of 2010. Fairchild expects to incur approximately $18-to-$23 million of cash charges, primarily for severance and other costs associated with transfer activities beginning in the second quarter.
The company will also take additional non-cash charges of approximately $25-to-$30 million for impairments and accelerated depreciation over the course of the next six quarters. Once completed, the company expects to realize annual savings ranging from $20-to-$25 million as a result of these closures.
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