Analog chipmaker Intersil (ISIL) discloses its board has approved a restructuring plan that will...

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

Analog chipmaker Intersil (ISIL) discloses its board has approved a restructuring plan that will reduce its workforce by 11%, and lower its annual operating expense rate by $40M by Q3. The plan is expected to result in $9M in restructuring charges. Intersil is currently expected to see its revenue fall 9.3% Y/Y; that's worse than what's expected for many rivals, and implies some share loss.