SAN FRANCISCO (Thomson Financial) - Spansion Inc. late Wednesday said it plans to cut 500 jobs worldwide as part of its previously outlined efforts to improve overall productivity.
Spansion to cut 500 jobs worldwide
06.04.08, 7:30 PM ET
The work force reductions will come through planned consolidations, attrition, and a reduction in regular, contract and temporary workers in manufacturing, engineering, management and administrative support functions, the Sunnyvale, Calif.-based chipmaker said.
Spansion (nasdaq: SPSN - news - people ) also said it plans to increase the ratio of its engineering and administrative functions in lower cost regions, such as Malaysia and China.
'With our recent increase in manufacturing output and yields, as well as productivity enhancements throughout the company, we can streamline our organization and further reduce costs, while continuing our rapid pace of innovation,' said President and Chief Executive Bertrand Cambou in a statement.
Shares of Spansion closed the regular session up 5 cents at $3.05.
Katherine Hunt |
