News In Brief

Motorola will cut as many as 4,000 jobs from its semiconductor business in response to falling demand for its products, the company announced Friday. The reduction, affecting about 12 percent of the workforce in that division, is the third round of job cuts announced by the Schaumburg, Ill.-based electronics giant since Dec. 9. In all, 9,100 positions have been or will be eliminated. The latest move will result in job losses at plants in Austin, Texas, and Phoenix, as well as in five countries in Europe and Asia.

Lechters Inc., one of the US's largest housewares retailers, announced a restructuring plan that will close 166 of its 490 stores and eliminate at least 725 jobs. The changes are a result of a turnaround strategy aimed at repositioning the Harrison, N.J.-based company and restoring long-term profitability. The plan will focus on kitchen products of higher quality and will expand Lechters's website by the end of next month to include online shopping. It will scrap the company's Costless Home Store, which has 11 retail establishments, and will close 128 Lechters stores and 27 Famous Brands Housewares Outlet stores.

(c) Copyright 2001. The Christian Science Publishing Society

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK