The job cuts were finalized the same day RF Micro announced that it lost over $16 million last quarter.
GREENSBORO -- For the second time in a month, cell phone microchip maker RF Micro announced it will cut more jobs -- but this time on a much larger scale.
About 225 Greensboro employees will lose their jobs in a company-wide 350 person lay-off.
“We feel about these people like they're family," said VP of Strategic Development Jerry Neal.
Employing 2,000 people in Greensboro, the majority of the workers laid off are skilled college graduates making an average salary of $50,000 a year. “A variety of people are engineers, we have technicians," said Neal.
The job cuts were finalized the same day RF Micro announced that it lost over $16 million last quarter. Neal says the reductions will add more value for shareholders and increase profits.
“We're going to save about $75 million per year and of course a lot of that is not salaries," said Neal.
For the second time in a month, cell phone microchip maker RF Micro announced it will cut more jobs -- but this time on a much larger scale.
These cuts are part of what RF Micro calls a "strategic shift." The company is now shifting its focus to cellular front ends and power amplifiers, the component that sends your voice from your cell phone to the tower.
“It's a very complex component but they are components that we can make more profit with and we have the support and infrastructure here to support those products," said Neal.
The affected employees are still discussing severance packages with management. Their final day with the company has not yet been finalized. With this latest round of layoffs the company will likely see $40 to $50 million in restructuring charges they will have to pay off over the next two quarters.
Last month, RF Micro announced it was cutting 80 jobs. Those positions were moved to its facility in China.