In addition to the Company’s restructuring actions announced June 29, 2016, the Company announced today an additional restructuring plan for continued consolidation of its global footprint across Asia, EMEA and the Americas. The plan includes reducing the Company’s global headcount by approximately 6,500 employees, or 14% of its global headcount by the end of fiscal year 2017. The total pretax charges for the plan will be approximately $164 million in fiscal year 2017. The restructuring activities and global footprint consolidation underway should enable the Company to be operating within its targeted Non-GAAP product gross margin range of 27-32% by the December 2016 quarter.
10 replies (most recent on top)
Top management invested in the wrong technology and do not accept the new flash drive technology.That is the reason why they are broken now.
Wondering if Springtown can become a NAND fab..
Why hasn't any employee surveys been carried out recently.????
The worker bees need a voice.
Springtown has 230 employees with the title manager.
Do the maths this is company wide the outside world must have some laugh at our over priced products trying to fund this farse.
We spend millions on tools and forget that we need a worker bee to run it instead we employ a team off managers to hold endless meetings on how to best run it.
No bees no honey or was that money???
Springtown???
RHO & RMO will be gone if we made the jump.. Should we going fabless or built our own wafer fab?
If we made the jump to flash back then u positively think we will be spared today?.. Kodak made the jump to digital but...
Part of last year's RIF....ship is sinking faster than the Titanic and more casualties. Biggest mistake they made was not jumping on the flash tech boat when it passed by.....
Announements coming Wed. July 13th regarding current actions to the company!
Could this be the end for Shakopee and Suzhou?
$2.6B was a surprise .... Not sure if SJL is cooking something ...
But yes - be ready for another ride - 6.5K reductions in headcount - not sure how many in factories ... but looking at the cost of $164M - seems mainly factory closing & some desk one ....