LayoffBlog.com

February 5, 2009

ON Semiconductor to close fourth fab, plans another 350 layoffs

ON Semiconductor Corp has announced it will cut another 350 jobs as it bumps the number of fabs it plans to close up from three to four by the end of Q1 2010 as part of its ongoing cost-reduction effort.

Specifically, ON will close its last Phoenix, AZ fab by the end of Q1 2010 and transfer production from the 6-inch facility to another site within its manufacturing infrastructure. The closure is expected to result in total cash charges of approximately $8 million to $10 million beginning in the current quarter. A savings of approximately $9 million per quarter compared to Q3 is also expected, with the full benefits seen in Q2 2010. ON said approximately 350 jobs at the fab will be eliminated between now and early 2010.

Source: EDN.com

January 30, 2009

Chartered Semiconductor to cut 600 jobs

Chartered Semiconductor Manufacturing Ltd. said it would cut 600 jobs, about 8% of its global work force, as it swung to a fourth-quarter net loss amid a drop-off in demand and delayed deliveries.

90% of the job cuts announced will be in Singapore, chief executive Chia Song Hwee told BT in a telephone interview.

~News submitted by Steve~

Source: Singapore Retrenchment Blog

NEC to cut 20,000 jobs

Japanese electronics giant NEC Corp. said it will cut 20,000 workers worldwide as it tries to stanch widening losses from semiconductors and other businesses that have been hard hit by competition and the global economic slump.

The company hopes the job cuts, which will be split equally between Japan and overseas, will help save 80 billion yen over the next two years.

~News submitted by Steve~

Source: Singapore Retrenchment Blog

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