SiliconBeat

Sirf Technology Holdings said that last week it approved a “corporate cost reduction and restructuring plan that will include a reduction in force,” which, together with the recent spin off of its Swedish subsidiary to its managers and employees, will result in a drop in “headcount” for the company of approximately 25 percent. The moves are being made “in view of continued economic uncertainties and expected continuing consumer demand weakness in 2009.

It is the third round of layoffs the maker of GPS-related semiconductors has announced this year. In March, it Read the rest of this entry »

Deutsche Bank, which had been the single largest shareholder of Sirf Technology Holdings with about 5.5 million shares as of March 3, reduced its holdings in the San Jose maker of chips and software used for global-positioning applications by more than 99 percent, according to a filing the investment bank made with the SEC Monday.

Sirf shares sank to an all-time low last month in the wake of a ruling by a judge with the U.S. International Trade Commission that found it had violated patents held by Broadcom.

Sirf has struggled with slowing sales this year that have caused it to cut workers twice since March when the company’s co-founder, Diosdado Banatao, returned to serve as interim chief executive.