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Lattice Semiconductor To Cut Jobs

Chip maker announced a corporate restructuring that will reduce its headcount by about 125 employees, or roughly 14 percent of its work force.

WASHINGTON (AP) -- Lattice Semiconductor Corp. announced a corporate restructuring that will reduce its headcount by about 125 employees, or roughly 14 percent of its work force, and reduce its quarterly operating expenses by about $4.5 million beginning in the fourth quarter.

The Hillsboro, Ore., chip maker said the restructuring will result in a restructuring charge of $3.3 million to $3.8 million in the third quarter and about $400,000 in the fourth quarter.

Last week, Lattice Semiconductor said it expects its third-quarter revenue to come in about 1 percent to 3 percent below second-quarter levels.

Lattice shares added 13 cents, or 5.6 percent, to $2.45 in midday trading.

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