ST Microelectronics closeing

I just got word today that my employer (ST Microelectronics) is
closing down there two fabs in America. ST Carrollton,Tx and also ST
Phoenix, Az will be closeing. Although these two fabs remain very
profitable, they have decided thats just not enough because were are
high cost fabs. Thats fucked up because this is a French company and
all there fabs in Europe suck and they loose money but there goverment
wont let them shut down over there and put 1000's of workers out on
there ass like they can here. We were always told that as long as we
remained profitable, that we had nothing to worry about. We have done
that and went above and beyond what they called for in cost savings.
We are just not putting enough money in the stock holders pockets.
They said it could take up to a year or two before all the devices and
products are shipped over-seas to Singapore or China..isnt that
lovely. They announced also that if they decided they didnt need you
at anytime, you can be layed off.

Redshad

 

: I just got word today that my employer (ST Microelectronics) is
: closing down there two fabs in America. ST Carrollton,Tx and also ST
: Phoenix, Az will be closeing. Although these two fabs remain very
: profitable, they have decided thats just not enough because were are
: high cost fabs. Thats fucked up because this is a French company and
: all there fabs in Europe suck and they loose money but there goverment
: wont let them shut down over there and put 1000's of workers out on
: there ass like they can here. We were always told that as long as we
: remained profitable, that we had nothing to worry about. We have done
: that and went above and beyond what they called for in cost savings.
: We are just not putting enough money in the stock holders pockets.
: They said it could take up to a year or two before all the devices and
: products are shipped over-seas to Singapore or China..isnt that
: lovely. They announced also that if they decided they didnt need you
: at anytime, you can be layed off.

That sucks. Good luck in the job hunt.

Some unsolicited advice: Start looking now. Don't wait until the last
day hoping for something to change.

 

Good advice.

 

That sucks. Good luck in the job hunt.

Yes I know...I worked for Hitachi when they closed down there fab
after the bottom fell out of memory. I didnt stay there till the end
either. ST is giving pretty good packages for those who stay but its a
gamble because at anytime they can tell you bye bye.

Redshad

 

That sucks dude!

How long do you have before they stop paying the bills? If you don't
mind the travel, I might be able to help you out.

 

Damn.. Damn.. Double Damn.. I sure hate to hear about it.. See you
soon..

Bill Walker