Philips to Restructure Chip Unit
Mar 13, 2003
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Dutch Philips Electronics NV said it would restructure its key semiconductor unit, cutting 1,600 jobs, in a bid expected to return the unit to profitibility by the fourth quarter this year. Philips said it would close its San Antonio,TX, U.S. facility and take a charge of 200 million euros, spread across the first three quarters of this year. (Reuters)

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