Fairchild Semiconductor cutting 1,100 jobs

Fairchild Semiconductor International Inc., the South Portland, Maine-based semiconductor firm said it will eliminate 1,100 jobs, or 12 percent of its workforce. Payroll expenses will drop by about $33 million on an annualized basis, the company said. It also reduced its fourth-quarter sales forecast as demand for its mobile-phone chips declines. Sales will be $320 million, down from a previous estimate of $338 million to $360 million.