International Rectifier Corp., the El Segundo-based chip maker, said Thursday that it will cut about 18 percent of its worldwide workforce, or about 850 jobs.
The cuts will include an R&D facility in El Segundo that employs about 70 people, as well as an unspecified number of administrative staff at the headquarters, a company spokesman said.
The layoffs are scheduled to be completed by the end of the firm's 2009 fiscal year on June 30.
At the beginning of this fiscal year, IR -- as the firm is known -- employed about 4,500 people worldwide with roughly 600 in El Segundo.
The company announced the cuts as it reported a dismal performance in its second fiscal quarter ended Dec. 31.
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