May 16, 2001 |
Semiconductor firm Cirrus Logic Inc. said it will lay off 120 employees, or about 9% of its work force, as part of its shift to focus solely on consumer-entertainment electronics. As a result of the layoffs, Austin, Texas-based Cirrus expects to save $10 million to $12 million annually, aided further by cuts in expenses. Cirrus also will take a charge of $1.5 million to $2 million related to the job cuts. Cirrus said the moves will affect the quarters ending in June and September.
June 13, 2000 |
Cirrus Logic Inc., the No. 1 maker of semiconductors used in audio devices, said it will unveil a chip for home-audio systems that will download, store and play music from the Internet without using a personal computer. The Maverick EP9312 chip will be the heart of a digital home jukebox system that links to the Internet. Cirrus, based in Austin, Texas, will unveil the Maverick semiconductor today at the Embedded Processor Forum in San Jose and expects to begin selling it in the fall.
September 25, 1998 |
Cirrus Logic Inc., once a dominant maker of semiconductors for computer graphics, will fire up to 28% of its employees and take a $500-million charge to get rid of its weakest businesses. The struggling chip maker will cut 400 to 500 of its roughly 1,800 employees as part of a plan to stop making chips for graphics, personal computer modems and Internet-access equipment. Cirrus will focus instead on its more profitable chips for computer disk drives, audio equipment and industrial devices.
July 17, 1998 |
Microsoft Corp. on Thursday said its fiscal fourth-quarter profit rose 28%, beating forecasts, as the software powerhouse turned in strong sales of its Office and Windows NT programs and got a lift from its new Windows 98. Earnings for the company--whose 82% stock rise so far this year has been one of the main reasons for the Nasdaq composite index surpassing the 2,000 level Thursday--climbed to $1.36 billion, or 50 cents a diluted share, from $1.06 billion, or 40 cents, a year earlier.
March 6, 1998 |
Cirrus Logic Inc. said Thomas Kelly, co-president and chief operating officer, is resigning and Chairman Michael Hackworth will resume the job of president and chief executive. Hackworth, 57, was president and chief executive of the computer-chip maker from 1989 through last April. After the reorganization, he will again be responsible for overseeing all company operations. Kelly, 45, will resign his positions to pursue other interests effective today.
August 28, 1997 |
Fremont-based Cirrus Logic Inc. said it and Lucent Technologies Inc. agreed to change the percentage of computer chip wafers that each company must buy from their jointly owned semiconductor plant. Chip maker Cirrus Logic and telecommunications equipment maker Lucent are partners in Cirent Semiconducter, a manufacturing plant in Orlando, Fla. The plant produces chips that are used in computers, cellular phones, pagers and other electronic devices.