Intersil (ISIL) will reduce its workforce by ~150 employees as part of a "resource rebalancing...

|About: Intersil Corporation (ISIL)|By:, SA News Editor

Intersil (ISIL) will reduce its workforce by ~150 employees as part of a "resource rebalancing initiative designed to better align the company's operating expenses with strategic growth areas." The company hopes the plan will make it more competitive by, among other things, "shift[ing] more resources to product development" - restructuring charges are expected to be between $8-12M. ISIL also reports revenue of $144.8M for Q2. Shares +1.5% AH. (PR)