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HARRIS SEMICONDUCTOR REDUCES WORKFORCE

 HARRIS SEMICONDUCTOR REDUCES WORKFORCE
 MELBOURNE, Fla., April 3 /PRNewswire/ -- Harris Corporation's


Semiconductor Sector announced today that it is reducing its employment by about 300 people as part of an overall reduction in costs and expenses. The sector employs about 9,000 people worldwide.
 "Reductions in defense spending and the slow pace of economic recovery in our commercial markets make it necessary to take these measures," explained Phillip W. Farmer, executive vice president of Harris Corporation (NYSE: HRS) and acting president of Harris Semiconductor. "Our previous restructuring actions have resulted in a significantly lower break-even point for this business, but orders and sales have been running below this point.
 "The actions announced today will bring our costs and expenses in line with the current volume of business and contribute significantly to achieving our goal of returning Harris Semiconductor to profitability by the end of our fiscal year. This in turn will help ensure that we enter the new fiscal year on a profitable basis," he added. He also stressed that no plant closings are involved and that the reductions would not affect any of Harris Semiconductor's product lines.
 "We remain fully committed to our product strategy and to supplying the highest level of customer satisfaction," Farmer said. "The restructuring changes we initiated in September enhanced our customer focus and we have taken every precaution during this reduction to ensure a continuing high level of service."
 The workforce reduction applies to all levels, from management to production employees. Employees affected by the reduction will receive a severance package based on length of service, together with comprehensive outplacement assistance. "Decisions affecting the lives of our employees and their families are always difficult, but we had no alternative under existing business conditions," Farmer said.
 Harris Semiconductor is the seventh largest merchant semiconductor manufacturer in the United States and the number-one supplier to the U.S. government. Harris Corporation, with worldwide sales of more than $3 billion, is focused on four major businesses: electronic systems, semiconductors, communications, and Lanier Worldwide office equipment.
 -0- 4/3/92
 /CONTACT: Jim Burke of Harris Corporation, 407-727-9126/
 (HRS) co: Harris Corporation Semiconductor Sector ST: Florida IN: CPR SU: PER


AW-JJ -- FL008 -- 4857 04/03/92 13:17 EST
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Publication:PR Newswire
Date:Apr 3, 1992
Words:369
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