Fairchild Semiconductor International has informed that it will cut its worldwide workforce by 12 percent, or about 1,100 jobs, to cut costs and boost cash flow.

Along with job cuts, the South Portland, Maine-based company has also decided to cut its revenue outlook for the fourth quarter and said it expected more downward pressure on margins.

With the latest decision, Fairchild, whose chips are used in computers, telecommunications gear and automobiles, became the latest company in the sector to cut estimates.

Earlier this week, Texas Instruments Inc., National Semiconductor Corp., Altera Corp. and Broadcom Corp. slashed projections because of weak market conditions.

A company official stated that the restructuring actions would reduce payroll expenses by about $33 million on an annualized basis.

Shares of the company were up 15 cents at $3.79 Friday morning on the New York Stock Exchange.

Fairchild expects to take a charge of $12 million to $16 million during the current quarter and the first quarter of next year, and the job cuts are expected to reduce expenses by $33 million a year.