News

SHANGHAI, CHINA – Semiconductor Manufacturing International Corp. (SMIC) has reported that it is running at a utilization rate of 65% to 70% for the fourth quarter. This contradicts an article issued earlier in the week by The Financial Times reporting that the foundry’s utilization rate had dropped to as low as 20%.
 
SMIC acknowledged that its utilization rate has fallen from 91% in the third quarter but added that it is maintaining revenue guidance for the fourth quarter.

WILSONVILLE, OR – Tyco Electronics announced that it will cut 70 jobs at its Wilsonville plant. The layoffs are part of the company’s plan to eliminate 2,500 jobs worldwide by March.

According to a company spokesman, displaced workers will receive a severance package that includes outplacement services. Despite a positive fourth quarter, Tyco expects business to decline in 2009 due to rising costs and the unstable global economy. 

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