GREENVILLE, SC -- Kemet Corp., a provider of passive components, will cut 150 jobs, mostly in the U. S., and take a charge against earnings of $4 million in the June quarter.

The restructuring will result in annual savings of approximately $8 million, the company said.

"Kemet's mission is to return to profitability as soon as possible," said CEO Per-Olof Loof, in a press release. "This restructuring action will allow the company to adjust its expense to revenue ratio, and take us one step closer to achieving this mission. In the near future, I will be announcing further plans to move Kemet forward to the performance levels our shareholders expect."

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