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FREMONT, CALIF. - Struggling Cirrus Logic will lay off 400 employees after losing more than $50 million in its just-completed fourth quarter.
The loss more than offset two profitable quarters and brought about the layoffs in engineering, manufacturing and other areas. In addition, manufacturing facilities in Austin, Texas, and Fremont, Calif., will be consolidated, test will be moved offshore and some additional businesses, such as the remainder of the Pacific Communications Sciences group, will be eliminated.
The diversified maker of silicon for PCs and communications sank back below the $1 billion mark for its just-completed fiscal year, losing $46.2 million on net...