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Another chip company suffers as crisis continues

By John Oates

Published: 25 September 1998 15:52 BST

The slumping chip market claimed another victim yesterday with the news that Cirrus Logic is pulling out of making processors for PCs.

The company will lay off almost 30 per cent of its workforce - writing off $500m in the process. It will also cut an estimated two thirds of its manufacturing capacity.

Cirrus Logic said it is moving away from mainstream processors to concentrate on niche markets and specialised chips.

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