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back to article Melting flash-mem giant Spansion files for Chapter 11

Melting flash-mem giant Spansion has filed for Chapter 11 bankruptcy, less than a week after suddenly axing 35 per cent of its workforce. Meanwhile, Spansion ex-CEO Bertrand Cambou has vowed to return the $403,000 in severance he received after leaving the company in early February, telling a local newspaper he's "literally in …

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Bronze badge

called it.

The workers get fuck all, the execs get their millions in payout packets, and the corporate world just keeps sucking people in and using them up. Lovely system.

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WARN in the US

one major exception to the WARN protocols is that if the company itself did not know 60 days ahead of the layoffs that they were coming, or reasonably expected, then they do not have to provide 60 days pay and assistance finding new work.

not that it really applies here. as for the great statement by r.a.l. above, this is what happens when you don't have a contract. the majority of way upper management usually have an ironclad, airtight, and bulletproof contact including severance packages.

there's really not a lot the average worker can do, other than maybe try to get a position that's either under contract, or hope and pray. at least these guys weren't in a Right-to-Work state where they would have just been kicked out the door for no reason, then the company announces chap 11, then offers to rehire all the old employees at half their wages.

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Paris Hilton

in tears, was he?

Amazing how many upper management types get tearful when the plebs get canned. You'd almost think they cared.

Paris, 'cause who cares if she cares?

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Silver badge
Pirate

Rose coloured Glasses in the Dark will never aid Vision which is Missing

"On Sunday, the company said it had filed for bankruptcy protection in an effort to "restructure its burdensome debt obligations and intensify its focus on market segments with greater profit potential." Those debt obligations come to $625 million."

"one major exception to the WARN protocols is that if the company itself did not know 60 days ahead of the layoffs that they were coming, or reasonably expected, then they do not have to provide 60 days pay and assistance finding new work." ..... By Curtis Posted Monday 2nd March 2009 06:31 GMT

Curtis,

How much bigger of a WARNing does any one need? And as much as it would be nice to believe in the generous sentiments offered by Paula Rao... it is just such naivety which allows "bosses" to screw their workers and the markets with their schemes and scams.

And one cannot reasonably expect anything else in the near future, but more of the same catastrophic meltdown and at an accelerated and accelerating pace, because nothing has been changed in the Ethos/Core Drive of the System.

Wake Up and Smell the Coffee/Java. Mr Bean types are Driving the Engine and you don't need me to tell you what that means in the Great Scheme of Things. But I bet you that nobody is finding IT funny. And denying it and Virtual Voices with Radical Fundamental Change Options is the Height of Ignorant and Arrogant Folly with only one Result Patently Pending and in Actual Production*

And in Quantum Communications, that apparent dichotomy is surely Presently Proved to be a True Singularity, with Global Socio-Economic Meltdown and Unrest being Prepared for and in Full Swing, with the Established System Drivers racing from one Summit Conference to another and doing Nothing of Value and even Less for a Change ...... as they try to find Ways to Protect themselves and Keep themselves still at the Helm, Leading.

Err, excuse me, but take a look around you in the World ....... You aint got what it takes to Lead. So when something/someone New comes along with a Completely New Idea 42 Follow in Lead with your Lead, it would be an Excellent Idea to Quantitatively Ease their Path with a Donation, n'est ce pas, which between you and me and the Internet is all that you can do which will be of any value....... the Simple Mindless Provision of Sweet and Sticky Newly Printed Paper Bills to Mind Owners who Know how to make the System Work for Everyone and who will BetaTest your Dumb Capitalist Banking Systems with their Requests of IT for Grant Funding Streams, in Order to Fix it with the Introduction of A.N.Other System based on Intrinsic Value rather than Exigent Reward.

And the IT angle? IT's Responsibility is to get the Message across and Hold Fools Accountable for any Continued Deliberate Attempts at Prolonging and Supporting the Folly to keep them in Clover Milking the System. The Natives/Renegades/Rogues are more than just Restless, and it would be as well to Register the Fact that Fools in the Present Folly would not survive them being SMARTer and Revolting.

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Anonymous Coward

Microsoft TomTom flash rotation patent is a joke

Microsoft are claiming a patent on rotation writing of flash (common circa 1998, Microsoft patent file 2001).

Here's the same thing from 1995 (6 years earlier):

http://www.freepatentsonline.com/5568423.html

Just to show how crap the US patent system is, here is a patent filed in 2009, the US patent office has *again* let someone else patent it:

http://news.prnewswire.com/ViewContent.aspx?ACCT=109&STORY=/www/story/02-19-2009/0004975192&EDATE=

And here is the same thing in 2005

http://www.freepatentsonline.com/7400549.html

And in 2004

http://www.patentstorm.us/patents/6732221/claims.html

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Anonymous Coward

@ AC

WTF has this got to do with Microsoft?

Seriously, if you want to go on a anti MS rant go elsewhere.

idiot

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failure of bankruptcies

the failure of bankruptcies is that although the judges have the right to break ALL contracts. they seem to only break the common worker and the unions . NOT the golden parachutes and overly paid execs.... And even if they do , the big boy network will re-institute these extravagances at the expense of the stock holders..win win for the rich , suck on any thing else you can if not.............!

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