LSI lays off 26 employees

LSI Logic Corp. (NYSE: LSI) cut 26 jobs on Wednesday at its Fort Collins location as part of a corporate-wide 3 percent workforce reduction. Overall, the company has cut 225 of its 7,700 employees. The Milpitas, Calif.-based semiconductor maker cited the weak market and overall economic environment as reasons for the cutbacks.

“Since January we’ve been taking steps to reduce costs,´ said Tara Yingst, spokesperson for LSI. ” This is the latest in that whole process.”

Yingst said the company has delayed bonuses and merit increases, reduced executive pay by 10 percent, cut discretionary spending, eliminated the temporary work force and initiated…