Chipmaker to cut

workforce by 14%

Lattice Semiconductor said this week that it will slash its global workforce by 14% as the Hillsboro company responds to a sharp decline in sales and profits. “We do not expect any additional reductions will be needed,” new CEO Ford Tamer said in a written statement. “While we expect continued near-term industry headwinds, I am excited about the opportunity to build on Lattice’s strong foundation.” Lattice didn’t say how many employees will lose their jobs. The company started the year with 1,156 workers around the world. Eliminating 14% of those positions would result in 162 lost jobs. Historically, about a third of Lattice’s employees worked in the U.S. The company doesn’t disclose how many of those positions are at its headquarters in Hillsboro. Lattice makes programmable computer chips for consumer electronics, industrial equipment and communications networks.

Ziply Fiber

sells for $5B

Canada’s largest telecommunications company, Bell Canada, said this week that it will buy Northwest internet and cable TV provider Ziply Fiber for $5 billion in cash and assumed debt. Privately held Ziply Fiber serves homes and businesses in Oregon, Washington, Idaho and Montana. Its territory includes Washington County and eastern Multnomah County, areas also served by Comcast. Ziply also provides landline phone service in some rural Oregon communities. Founded by executives who formerly worked at AT&T, CenturyLink and Wave Broadband, Ziply acquired Frontier Communications’ Northwest operations in 2020 for $1.4 billion. At the time Ziply had more than 100,000 Oregon customers. Its headquarters are in the Seattle suburbs of Kirkland and Everett. Bell Canada said the deal will bring new products and technological capabilities, but it wasn’t specific about how the deal will benefit customers.

Service sector

grows at fast pace 

The U.S. service sector expanded in October at the fastest pace in over two years, fueled by a pickup in hiring. The Institute for Supply Management’s nonmanufacturing index increased to 56 in October, the highest since July 2022, data showed Tuesday. Readings above 50 signal growth. The group’s gauges of new orders and business activity expanded at a solid rate, at 57.4 and 57.2 respectively, pointing to continued economic momentum at the start of the fourth quarter. The institute’s employment index climbed nearly five points to 53, the highest since August 2023. Further job gains, paired with low unemployment and limited layoffs, would support Americans’ ability to keep spending in the months ahead. Fourteen industries reported growth in October, led by retail trade, information, transportation and warehousing.

— Bulletin wire reports