Nokia crash causes RF Micro layoffs 80

RF Micro Devices will cut about 80 people from its worldwide work force, with most of the impact hitting in Greensboro, we heard this afternoon from Jerry Neal, the company’s executive vice president. They had employed around 1,450 people locally.

The reason is the rapid decline in the fortunes of cell-phone maker Nokia , long its biggest customer. Other customers are making up some of the difference and allowing RF Micro (NASDAQ: RFMD) to keep posting investor-pleasing financial results, but not enough to require the same amount of total production.

From: Biz Journals