Jun 14, 2001
"The industrywide inventory correction and slowdown in customer demand necessitate that IDT adjust its operating costs and production capability to levels currently required by the markets we serve," said Jerry Taylor, Integrated Device's president and CEO.
Integrated Device manufactures and markets semiconductor products.
The company has 4,900 worldwide employees and has facilities throughout the United States, as well as Australia, China, Malaysia and Philippines.
Integrated Device shares traded Wednesday afternoon at $34.08, down 48 cents or 1.4 percent, on the Nasdaq Stock Market.
