STMicro is laying off 4,500 people - one in ten of its workforce - and won't provide revenue guidance for next year until the market is clearer. The company will cut $700m from expenses in 2009 by slashing jobs and "resizing" manufacturing operations. STMicro makes chips for industrial applications, set-top boxes and cars. …
Not enough fanboys buying the latest cutting-edge high end gizmos? Damn, imagine that.
To quote the article "STMicro makes chips for industrial applications, set-top boxes and cars."
That's a real company than employs real people, designs and makes real things, all of which are used by other manufacturers of real things. This is the real economy, stupid.
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