TheMarker has learned that National Semiconductor Israel (NYSE:NSM) laid off 10% of its 180-member workforce.
The company confirmed the report, stating that employees were convened yesterday and updated regarding U.S. headquarters decisions and their ramifications. The company said the Israeli unit was forced to let about fifteen employees go, most in the research and development division. The pink slips will be accompanied by enhanced severance packages.
The parent company announced two days ago that it would downsize about 150 employees, or 2% of its global workforce. The company plans to decrease investment in wireless communications and digital set top boxes and increase investment in Asian sales, as well as resources to pinpoint investment opportunities in cellular and mobile facilities.