Hi OWN STOCK,
More than likely they've made the decision to vacate the optoelectronics business because of the short term expenses they currently have in that division, and a rather bleak to meager outlook for optoelectronics sales. I'd guess that they'll sell the patents, supplies, patented processes, etc. for whatever they can get, and then put those funds to use elsewhere, in some division where they feel they can get a more immediate return. Unsold facilities will be put to use in other operations. And, I guess, up to 4,000 more people will lose their jobs.
Optoelectronics is an extremely expensive proposition for anyone. R&D costs remain sky high, while sales of new and improved products are skimpy at best. The costs don't currently justify the rewards, so they made the decision to abandon ship on this one. I can't say as I blame them.
Yes, one does have to feel some empathy for the workers that will lose their jobs. I'm not sure if it's Allentown, PA or Orlando, FL that will bear the brunt of the lost positions, but wherever it is, there will be an economic impact on one or both of those communities.
KJC |
