Semiconductor Job Outlook

With big players joining the fray in job cuts, the semiconductor job outlook looks atrociously grim. The recent figures and estimates suggest that this recession is one that was not witnessed before and here to stay. The list below gives the more recent jobcuts and updates.

• Samsung, Toshiba to cut more costs
• ST to cut 4,500 jobs amid weak results
• Corning profit falls; cuts up to 4,900 jobs
• TI to cut jobs 12% as profit sinks 86%
• IBM cutting about 2,800 jobs, documents show
• Brooks moves to cut 30% of headcount
• Philips to cut 6,000 more jobs after huge Q4 loss
• Qimonda files for insolvency

If you are someone who is affected by this crazy economy, you are not alone. Everyday millions of people, not just in the semiconductor business but in all industries go to work without knowing if their job is safe.

Is there a practical solution to end this carnage quickly? I don't think so! We just have to ride it out.

The Race

Sun has announced that it is going to cut 2,500 of its workforce. The company's share price fell 15 per cent in after hours trading on the Nasdaq. The job losses add up to around 7.5 per cent of Sun's 33,500 workforce. Sun filed a net loss of $34m for the quarter compared with a profit of $67m in the same period last year.

Via (Inquirer)