Harris Corp. to Cut 500 Jobs: The...

Harris Corp. to Cut 500 Jobs: The company also took a related $115-million charge against second-quarter earnings as part of a major overhaul of its ailing semiconductor business. Harris said it expects to lay off 500 professional and administrative employees by the end of February, most of them in the United States. The company employs 33,000 worldwide. The Melbourne, Fla., company also said it will restructure its business to focus resources on semiconductors used in signal processing, power control and custom military and aerospace applications. Low-margin, high-volume semiconductor product lines used in less specialized applications will be de-emphasized, the company said.