Worldwide economic is not doing well...When a company doesn't make any profit, the top management will start to look into the operating cost and come out a series of cost reduction program. Bottom line, they want to turn around the situation and make profit...Yes, just one word: 'Profit'!
When economic is going downturn, semiconductor industry always be the pioneer to drive the so called "cost reduction program". Well, I rather to call it as "Oppa Choppa Style"! Yes, it's the chop season in semiconductor industry now.
Texas Instruments has announced it will lay off 1,700 workers...It means 1,700 people from the mobile processor business is going to be jobless...
Freescale also announced laying off to keep up the market challenge. However, it did not disclosed the number of employees affected. Chop, chop and chop season has began...
ON Semiconductor has announced it will cut 250 jobs and cancel its cash incentive program for senior executive.
STATS ChipPAC Malaysia also announced MSS, Mutual Separation Scheme. For those who is taking the MSS, they will get 1.25 month compensation for 1 year service with total years of service < 10 years and 1.15 months compensation for 1 year service with total years of service > 10 years. Maximum limit would be 30 months.
Hopefully this "Oppa Choppa Style" is not like the "Oppa Gangnam Style", spread around every corner of the world...
