The move follows other recent job cuts by the foundry provider. ''In managing our cash and liquidity position, we are taking a painful but prudent business decision to reduce our worldwide workforce by approximately 600 people in the coming days, bringing the total workforce reduction since third quarter of 2008 to about 1,300 positions or approximately 18 percent of the total workforce,'' Chia Song Hwee, president and CEO of Chartered, in a statement.

Revenues were $351.7 million in fourth quarter 2008, down 0.3 percent from $352.6 million in fourth quarter 2007. Sequentially, revenues were down 24.1 percent compared to $463.7 million in third quarter 2008.

Net loss was $114.0 million, compared to a net income of $5.9 million in the year-ago quarter, and a net loss of $24.4 million in the previous quarter.

Capacity utilization in fourth quarter 2008 was 59 percent compared to 81 percent in the year-ago quarter, and 85 percent in third quarter 2008.

Shipments in fourth quarter 2008 were 368.8 thousand wafers, a decrease of 3.7 percent compared to 383.2 thousand wafers in fourth quarter 2007. Shipments in fourth quarter 2008 decreased by 28.3 percent compared to 514.3 thousand wafers shipped in third quarter 2008.

Revenues were $1.7 billion in 2008, up 22.5 percent from $1.3 billion in 2007. Net loss was $92.6 million, compared to a net income of $101.7 million in 2007.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved