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Technology Stocks : Spansion Inc.
CY 23.820.0%Apr 16 5:00 PM EST
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From: mlc1781/1/2009 9:30:43 PM
   of 4590
 
THEIR COST CUTTING PLANS

Cut costs by $100 million for this quarter to compensate for the expected $100M drop in revenue. "Requires some very hard mergers, shutting down factories, reducing ????, bonuses, projects, R&D, and so on and so forth."

Reduce employees from 9,000 to 4,000 by spinning off some fabs.

Cut R&D from $400 million/year to $260 million/yr. Find an R&D partner to share costs.

Cut SG&A about $50 million.

Cut capex to $30 to $40 million per quarter for 2009.
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