General Semiconductor Inc, the Melville, New York-based maker of discrete semiconductors, announced last Friday that it would be restructuring its operations following two years of poor earnings. Overhead reductions and structural changes will cost the company $14m before tax, it said, with the charge appearing in the fourth quarter through December. Restructuring activities will commence immediately, leading to full implementation by the first half of 1999. Chief executive Ronald Ostertag said he hoped to increase next years earnings materially over this year’s despite what he called difficult times and the continued expectation of further pricing pressures. For the nine months to September 30, the company showed profits of $22m of $0.60 per share on revenues of $302m. Shares of General Semiconductor rose 1.6% to close at $7.88 on Friday. รก
