TITLE

Spansion cuts 3000 jobs to save $225M

AUTHOR(S)
Deffree, Suzanne
PUB. DATE
March 2009
SOURCE
Electronic News;3/2/2009, Vol. 55 Issue 9, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the plans of Spansion Inc. to cut 35% of its workforce due to falling average selling prices, lower demand, and over supply. It is reported that the majority of the layoffs, affecting approximately 3,000 employees, are at the flash maker's global manufacturing sites. Spansion says it expects that the massive layoff will result in approximately $25 million in cash charges, during the first half of 2009.
ACCESSION #
37031984

 

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