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ON Semi Cuts Jobs, Lowers Outlook

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PHOENIX, Jan. 8, 2009 -- ON Semiconductor Corp. said it will cut 1500 jobs, speed up factory closures, initiate a hiring freeze and take other cost-cutting measures as worldwide demand for its chips continues its downward slide. The company also lowered its outlook for the fourth quarter of 2008. ON supplies data and power-management chips to the automotive, communications, computer, consumer, medical, industrial, cell phone and military/aerospace markets. The company said it will cut 10 percent of its staff, move up factory closings from the end of 2009 to midyear and begin four- to six-week shutdowns at other...Read full article

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    Published: January 2009
    Glossary
    nano
    An SI prefix meaning one billionth (10-9). Nano can also be used to indicate the study of atoms, molecules and other structures and particles on the nanometer scale. Nano-optics (also referred to as nanophotonics), for example, is the study of how light and light-matter interactions behave on the nanometer scale. See nanophotonics.
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    challengingchipsclosuresCommunicationscost-cuttingcutsdefensedeterioratingeconomyEmploymentfourth quarterguidancehiring freezeindustrialjobsKeith JacksonnanoNews & FeaturesON Semiconductoroutlookpay cutsphotonicsreductionrestructuringrevenue

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