Marvell Semiconductor to close Penang plant, to lay off 300
Sources say employees were notified yesterday that the facility located in Bayan Lepas would cease operations by May 15.
PENANG is looking at yet another wave of layoffs from the manufacturing sector.
Business Times has learnt that Marvell Semiconductor Sdn Bhd is set to close its Penang factory and part ways with some 300 workers.
Sources said the employees were notified yesterday that the facility located in Bayan Lepas will cease operations by May 15.
“Only less than 20 people are expected to be retained for design work and workers are expected to receive their termination letters next week,” one source said.
Phone calls to Marvell Semiconductor’s human resources manager in Penang, Surrayya Shuib, were not returned.
US-based Marvell Technology Group established Marvell Semiconductor in Penang in 2006 via a RM100 million plant.
When announcing its fourth quarter and fiscal 2009 results on Thursday, Marvell Technology which is a storage, communications and consumer silicon solutions firm, said it plans to reduce its global workforce by around 15 per cent, or around 850 employees.
Marvell Technology chairman and chief executive officer Dr Sehat Sutardja, when presenting the company’s financial results on Thursday, had said in a statement: “We believe the current economic climate will not substantially improve over the short term.
“Consequently, we are taking actions to re-align our business to reflect the realities of the current economic environment. We are focused on improving the operating efficiency of our business and lowering the expenses under our control, while reinforcing the long-term financial strength of Marvell,” he added.
No related posts.
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically each day to your feed reader. If you don't have a feed reader, you can always have these articles delivered to your email inbox every day. Click here to sign up.
Trackbacks & Pingbacks
Comments
Leave a comment
Line and paragraph breaks automatic, e-mail address never displayed, HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
These Malays are known to be lazy. Retrenched them also good.
And i certainly hope that u don’t get one or lose yours !!!
That is a MEAN thing to say. It’s not like the most efficient or most productive person that u think will have their jobs at the end of the day.
COME ON !! Show some heart. EVERYONE in the world also facing this.
For this company counts the shareholder value. They do not care if you are doing a good job, when telling you that you can go home.
Nobodies job in the whole world is save there these days!