ST Microelectronics is shuttering three chip plants as part of its effort to ditch aging 6 inch wafer factories and other old production lines. The Swiss-based chip maker is closing its 6 inch wafer fab in Carrollton, Texas, an 8 inch fab in Phoenix Arizona, and a packaging and test plant in Ain Sebaa, Morocco. It has already …
Rationalization? Don't you mean...
... layoffs? You don't have to regurgitate the humbug that the spinmeisters slathered on to the press release to try to hide the fact that real live human beings are being affected. Just say it the way they play it -- they're laying off a s--t-load of people in order to raise the bottom line.
Reminds me of when a major international corporation bought the little company I was employed at. Their slogan was, "Creating value through people." Their actions said that they created value [profitability] through firing people. Yep, they got me in the fourth wave of "creating value".
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