STMicro plan risks 4,000 jobs
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Swiss firm STMicroelectronics is to close three factories in the US and Morocco, putting 4,000 jobs at risk.
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As a new PLM rollout is planned, a new requirement suddenly crops up. Data will be shared with outsiders, and Mathias Thurman wants it all done securely.
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The US economy lost 4,000 jobs in August. Home builders, factories, and schools were hit hard.
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Hit by turmoil in the debt capital markets, STMicroelectronics, Intel, and Francisco Partners agreed on Wednesday to extend the deadline to launch Numonyx, a flash-memory joint venture between the three companies, to March 28.In a filing with the U.S. Securities and Exchange Commission (SEC), Intel said the parties have re-negotiated the commitment letter which originally called for certain lenders to provide up to U1.55 billion to finance Numonyx.Under the revised financing terms, Geneva-based chip maker STMicroelectronics will provide $364 million to the joint venture with a 48.6 percent stake of Numonyx. Francisco Partners will invest $150 million in exchange for a 6.3 percent equity stake, according to STMicroelectronics.Intel will retain a 45.1 percent ownership in the joint venture but hadn&#39;t calculated its financial commitment, according to an Intel spokesman.Numonyx will also receive a $650 million loan and a $100 million revolving credit facility, according to Intel&#39;s filing with the SEC.The updated agreement provides Numonyx a similar level of net cash with lower indebtedness than originally anticipated, ST Microelectronics said in a release.The three companies originally announced the joint venture on May 22 and said the deal would close in the second half of 2007. Numonyx is aimed at supplying NOR and NAND memory for consumer and industrial products including cell phones, digital cameras, PCs and other equipment.After the deal closes, Numonyx will be the largest supplier of NOR flash memory, STMicroelectronics said in the release.
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Media & professional: Options likely to prove unpalatable for staff, with redundancies running into four figures.
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SAN FRANCISCO -- The number of companies building and designing microprocessors is likely to shrink by approximately 40 percent over the next 10 years, analysts from Gartner Inc. predicted at the research firm's Semiconductor Industry Summit conference here in San Francisco Tuesday.
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Plans to have large numbers of employees work remotely in the event of an influenza pandemic could fall apart if Internet traffic reaches bandwidth-choking levels, business continuity planners say.
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About 22,000 jobs in UK manufacturing could be lost in the next three months as output lags in many areas, the Confederation of British Industry says.
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You are the weakest link The Department of Trade and Industry has made Â£4m available for four research projects aimed at reducing the IT risk created by human error.â¦
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A fundamental change in the design of microprocessors is presenting software developers with a challenge &#151; and a huge financial opportunity.
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The company announces a huge four-year restructuring plan.
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As the Federal Reserve warns about the risk of inflation, a report this Wednesday on fourth-quarter productivity could carry considerable weight.
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The company said it would cut 3,000 jobs, or 4.6 percent of its global work force, to ensure future profit growth as generic competition hurts sales.
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Wireless phone company Sprint Nextel Corp. said Friday it plans to slash 4,000 jobs and close 125 retail locations to gird itself for an expected slowdown in subscriber growth and revenue.
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SBC Communications SBC.N may shed  more than 10,000 jobs from its workforce through the end of  2005 using attrition and involuntary cuts, the company said in  a filing with U.S. market regulators on Friday.
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The number of workers signing up for jobless benefits edged up a smaller-than-expected 4,000 last week, suggesting resilience in labor markets, a government report showed on Thursday.
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Improvements include new chips, support for a fourth operating system and new options for running multiple jobs on the same machine.