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.
- Hi-torque tank engines: EXTREME car hacking with The Register
- Review What's MISSING on Amazon Fire Phone... and why it WON'T set the world alight
- Product round-up Trousers down for six of the best affordable Androids
- Why did it take antivirus giants YEARS to drill into super-scary Regin? Symantec responds...
- Vid Mysterious BEAM outside London Googleplex ZAPPED