SAN JOSE, Sept. 20 -- Solectron Corp. expects to take fiscal fourth-quarter restructuring charges of up to $25 million due to shutdowns in the electronics manufacturer's operations in Europe and North America.

As part of the restructuring the company will also layoff 500 employees, the firm said in a Sept. 16 filing with the SEC.

Solectron also plans to take a $47 million restructuring charge due to the halting of production of various PC and computing products. According to a Deutsche Bank analyst, the move is "likely a result of a supply agreement being terminated with either HP or IBM (from a previous acquisition)."

Solectron also finalized the sale of its minority interest in ECS Holdings Ltd. for $16 million in cash. Solectron expects fiscal fourth-quarter losses of $6 million to $15 million related to the sale.

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