Count on seeing soon the next round of layoffs being announced when sales figures still suck and come in at the low end of the figures. $40million more in cuts needs to make ON breakeven at $300million/quarter. Cuts will be mostly in America and follow an additional writedown in assets related to previous aquisitions. We'll see these layoffs take place in the 2nd half of the year along with continuing furloughs and paycuts across the board. It ain't over yet.
Thank your former AMIS CEO Christine King. First she screwed over all the shareholders. Now its the employees, many who are also probably shareholders so they get a double whammy. Really nice "lady" there, huh? How many hundreds of millions did she rape the company for before throwing you all to the ON wolves?
Pretty demoralizing when the cuts aren't done all at once. That way, every single day each employee goes to work, they know full well it could be their last. Furthermore, there is no assurance any employee can be given because his/her boss could be the next one axed and they could follow soon after the protection is gone.