Avago Technologies, a private equity-owned analog semiconductor manufacturer has informed that it would cut 400+ jobs in Asia. The company is right sizing its resources and on an asset-lite initiative. The company is planning to outsource some of its manufacturing functions. It presently has more than 6,500 employees on board. It, however, has not given any information on exact locations from where jobs will be cut.
Avago Technologies Ltd. will cut its staff by about 400 employees as it outsources more of its manufacturing program, the company said Tuesday.
San Jose-based Avago, which supplies analog interface components for communications, industrial and consumer applications, said most of the job cuts will be in Asia.
As a result, the privately held company expects to record a cash charge between $5 million and $7 million during its fourth fiscal quarter, ending Oct. 31.
In May the company said it would reduce its staff by about 230 employees in Singapore, where it is increasing its manufacturing outsourcing.
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