Courtesy of EE Times (03/18/2008 3:05 PM EST)

After being acquired by On Semiconductor Corp., AMI Semiconductor Inc. will cut 200 jobs, according to a report from the Idaho State Journal.

''Tamera Drake said the CEO of Phoenix-based On Semiconductor Corp., Keith Jackson, told about 800 employees Monday that 60 to 70 jobs will be cut within 90 days, and that another 150 jobs will be eliminated when the production of 5-inch silicon wafers is moved to another part of the plant and to Europe over the next two years,'' according to the report.

AMI's 5-inch fab is currently located in Pocatello, Idaho.

In a blockbuster deal, On Semiconductor late last year acquired AMIS Holdings Inc., parent company of AMI Semiconductor, for approximately $915 million in stock.

After the completing the acquisition, the deal is worth $613 million due to the decline in the shares of both companies, according to the report.

According to the report, Christine King, former AMIS chief executive, has joined On's board, and will be paid $59,000 annually. ''She also received a severance of $3.3 million as part of her contract with AMIS,'' according to the report.

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