Jul 26, 2007

LSI Leveraging Worldwide Contract Manufacturing Ecosystem = U.S. Layoffs

As written about earlier this month LSI announced 900 layoffs - Strategic Restructuring 900 To The Unemployment Line.

Less than three weeks later they announce another 2,100 layoffs. From their website they have 13
North American facilities outside of their home town of Milpitas, Ca. The company made no indication of where or when the cuts will take place or if any severance packages will be offered.

From the LSU July 25, Press Release:

Abhi Talwalkar, LSI president and CEO, said, "As a result of the steps we are taking today, LSI will be well positioned to leverage the worldwide contract manufacturing ecosystem to further reduce our costs and improve our gross margins over time. Additionally, we anticipate significant benefits from additional sourcing options and worldwide fulfillment capabilities."

The company, other than their own back-slapping, gives no information on employment numbers or layoff information. If anyone can add to this sparse info, please leave a comment.

Additional article in the Silicon Valley / San Jose Business Journalabout LSI: LSI posts $378M Q2 loss, plans $100M sale and 2,100 job cuts


Anonymous said...

Very informatic website. I got many business contact details here. Manufacturers India, Suppliers Surat, Exporters Gujarat, Wholesalers, Agencies Yellow Pages and Directory