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To: NBS who wrote (4708)	2/19/1999 10:02:00 AM
From: DJBEINO	Respond to of 9582

NEC To Slash Payroll 10% On Expected Record Loss Friday, February 19, 1999 TOKYO (Nikkei)--NEC Corp. (6701) plans to slash about 15,000 employees, or 10% of its group work force worldwide, over the next three years, company officials said Friday. The announcement came after NEC said the same day it expects group net loss to reach 150 billion yen in the year ending March, its biggest-ever loss. The deteriorated performance is blamed mainly on sluggish semiconductor prices, reduced demand from the telecommunications industry and foreign exchange losses. NEC will cut 9,000 jobs in Japan and 6,000 at group firms overseas. The major electric machinery maker will also take a charge of 75 billion yen this fiscal year to finance the restructuring of its unprofitable U.S. subsidiary Packard Bell NEC. The U.S. unit has already halved its payroll. Dividend payment for the second half will be cut to 3 yen from 5.5 yen the previous year for an annual payout of 8.5 yen, a decrease of 2.5 yen. President Hisashi Kaneko will step down on March 26 to take responsibility for the dismal results. Executive Director Koji Nishigaki will take over as president and Executive Vice President Hajime Sasaki will become chairman with representative rights. Among other restructuring measures, NEC plans to cut 20% in capital outlays and 10% in R&D expenses in fiscal 1999. It will also adopt an in-house company system for certain divisions, aiming to reform the management structure. Through the restructuring, NEC aims to reduce group interest-bearing liabilities by 600 billion yen within three years.

To: NBS who wrote (4708)	2/25/1999 10:37:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 9582

UMC expecting 45% growth in 1999 By Will Wade SUNNYVALE, Calif.--After bringing two new fabs online in 1998 and predicting the end of last year's semiconductor slump, UMC Group is expecting to see its total revenues swell by nearly 45% this year. The group of foundries, headquartered in Taiwan, now has six facilities running, and the company is reporting a 35% cumulative growth rate from 1992 through this year. "All our fabs are running at full capacity," said Jim Kupec, president of UMC Group (USA) in Sunnyvale, the foundry's U.S. marketing arm. He said last year's revenues of $1.13 billion will swell to $1.64 billion by the end of this year. "The chip slump is gone. I'm looking at it in the rearview mirror," he said. Kupec said the company brought two new facilities online in 1998: Nippon Foundry Inc. in Japan, which was acquired in December from Nippon Steel Semiconductor Corp.; and UTEK Semiconductor Corp. in Taiwan. NFI is Japan's first pure-play foundry operation. The foundry group will also see its total capacity more than double, from 1998's total wafer capacity of just over 1 million 8-inch wafers to more than 2 million in 2000. UMC's 0.25-micron capability is one of the factors attracting foundry customers, and its chip production at that linewidth grew from almost zero a year ago to some 40% of its total current output. UMC Group accounted for 21% of the total foundry demand last year, according to market research firm Dataquest. "We will report record bookings in March, and expect the same in April," Kupec said. "We are entering a huge growth phase, and we are on target to top $1.6 billion this year." semibiznews.com