Applied Micro Circuits Will Cut 150 Jobs (Layoff Update)

[hatrack]

"Applied Micro Circuits Corp., a chipmaker based in San Diego, will cut 150 of its approximately 750 jobs. The company will close its facilities in Israel and Singapore and consolidate its two Sunnyvale, Calif., sites into one.

Putnam Investments of Boston said it will dismiss another 100 employees in a cost-cutting move to reflect its smaller size after a trading scandal cost it tens of billions in investors' funds."

EDIT/END

Mods: Sorry about the complete article, but that's all there was.

http://www.stltoday.com/stltoday/business/stories.nsf/story/22A2D74D0AD6DAE586256F5000065546?OpenDocument&Headline=Applied+Micro+Circuits+will+cut+150+jobs