追踪SPAxSIOx事情发展 (01/03/2009 SPAxSIOx申请破产保护)

Mr.Business

新闻。

......The 65 largest unsecured consolidated creditors are owed $951.1 million, court papers show.

Spansion’s biggest creditors listed include U.S. Bank NA and Wilmington Trust, owed $457 million for notes and debentures due in 2016; Fidelity Management & Research Co., owed $69 million for notes and debentures due in 2016; Chipmos Technologies Ltd, owed $57.7 million; TEL U.S. Holdings, owed $49.4 million; and AIG Global Investment Group Inc., owed $33.8 million for notes and debentures due in 2016.

Possible Fujitsu Impact

Fujitsu Ltd., Japan’s biggest computer-services provider, is investigating the possible impact of Spansion’s filing, Toshiyuki Fukuoka, a company spokesman, said by telephone. A unit of Tokyo-based Fujitsu, Spansion’s largest shareholder with a stake of about 11 percent, sells the U.S. chipmaker’s products in Japan, Fukuoka said.

Spansion’s Japanese subsidiary filed for bankruptcy protection last month. The company is the world’s largest producer of NOR flash, once the most common type of memory chip used in mobile phones before handset makers turned to cheaper NAND flash chips manufactured by Samsung Electronics Co. and Toshiba Corp. instead.

......
The case is Spansion Inc., 09-10690, U.S. Bankruptcy Court, District of Delaware (Wilmington).

http://www.bloomberg.com/apps/ne ... fjP.t0&refer=us

Mr.Business

新闻。

Anatomy of a chipmaker meltdown
By Cade Metz in San Francisco

Posted in Financial News, 27th February 2009 20:56 GMT

AMD flash-mem spin-off Spansion has been hit with two separate employment lawsuits after unexpectedly laying off 35 per cent of its workforce earlier this week.

Both suits - Refuerzo v. Spansion and Rubaker v. Spansion - were filed yesterday in the United States District Court for the Northern District of California. Both accuse the company of violating the Worker Adjustment and Retraining Notification (WARN) Act - a twenty-year-old US law that requires employers to provide 60-days notice before making "mass layoffs."

"By all the information we've gathered so far, the numerical requirements for a mass layoff under the WARN Act have been easily met," Kenneth Sugarman, the lawyer backing the Refuerzo suit, tells The Reg. "Employees should have been given 60 days notice before the layoffs, but they were not."

When we contacted the company, their primary spokesperson told us she was unaware of the lawsuits but that she "believed" the company had an exception under the WARN act. Two hours later, she provided the following statement: "We are aware that a class action lawsuit has been filed, though the company has not yet had an opportunity to review it. Nevertheless, we believe there are exceptions to WARN requirements which the company meets. The company will not comment on any of the details of any defense it may have, but will wait for a court to determine."

The company says it did not notify the US Department of Labor about the layoffs until the day they happened.

A joint venture of AMD and Fujitsu, Spansion manufactures so-called NOR flash memory for cell phones and cars. The company is the world's third-largest flash maker, behind Samsung and Toshiba, but NOR is significantly less popular than the NAND flash chips manufactured by the two tech giants - especially now that the US car industry has buckled under the weight of a failing economy.

In September, according to former employees speaking with The Reg, the Sunnyvale, California-based Spansion slashed employee pay, cutting certain execs' checks by 10 per cent and others by 5 per cent. And three months later, it lopped another 15 per cent from the checks of many non-execs, employees say. Then on January 2, an estimated 500 employees at the company's headquarters and Sunnyvale R&D lab were placed on unpaid furlough.

Initially, this was described as a one-month leave. But on January 15, the company told the world that it was working to restructure its balance sheet - and possibly sell itself - after struggling to keep up with debt payments. Then on January 31 the company told furloughed employees that their leave had been extended for another two weeks.

The furlough was then extended a second time. Furloughed employees were due to return in March, but on February 23 the company announced 3,000 worldwide layoffs - and it appears that this included all furloughed employees. Multiple former employees have told The Reg they were notified by phone.

"I was laid off over the phone by someone who wasn't my manager," says Ian Dudley, a manufacturing engineer in the company's R&D lab. "My manager had already been laid off."

http://www.theregister.co.uk/2009/02/27/spansion_sued/


To WARN or not to WARN

Dudley's separation letter said it should be considered his official notice pursuant to the WARN Act and a similar California law, often referred to as the California WARN act. Dudley is part of the Refuerzo v. Spansion class action, which seeks damages for alleged violations of both laws.

It appears that jettisoned workers in Sunnyvale and Austin, Texas - where the company operates a full manufacturing fab - did not receive severance pay. But according to an SEC filing, the company gave a roughly $1m golden handshake to departing CEO Betrand Cambou. It paid incoming CEO John Kispert $300,000 upfront for four-months work and promised him an additional $1.75 million bonus if he solves the company's financial woes within six months. And the company's board of directors voted to lift pay cuts for certain executives still with company, saying this was needed for "employee retention."

"In my book, you retain employees by NOT laying them off. But that aside, where exactly would the employees you're trying to retain go? There are no jobs right now," Dudley says.

"It looks to me like top management are lining their pockets before the company goes bankrupt, watching out for themselves with no regard for the talented, dedicated employees who made Spansion, and their management jobs, no matter how incompetently performed, possible."

Spansion says it "deeply regrets the reduction in force, but it was an unavoidable decision that affected all levels of the company, including our executive management team. The Board has reinstated the salaries of certain - not all - executives and other key employees.

"These employees were deemed to be critical to the company’s abilities to successfully navigate through its current challenges so that we can preserve the value of the enterprise. Nearly half of the salary reinstatements were below the VP level, and only approximately 1/2 of our vice presidents received the reinstatement."

Eric Gibbs, the lawyer who filed the Rubaker v. Spansion suit, estimates that his suit affects between 500 and 600 laid-off employees, spanning the Sunnyvale and Austin facilities.

In Sunnyvale, the company has closed its R&D lab, and the WARN act does provide an exemption in the event of a "plant closing." But lawyer Kenneth Sugarman believes that Spansion will have "a very uphill battle" proving this exemption. In the case of a plant closing, the company must show - among other things - that it was trying to get financing to avoid the closing, that it had a realistic expectation it was going to get the funding, and that if it had given notice to employees, it could not have secured the financing.

The company's Austin plant is still open.

http://www.theregister.co.uk/2009/02/27/spansion_sued/page2.html

AlexZana

破产保护到几时？等的滋味也不好受

亮帅

我不觉得每个人会喜欢坏消息，但是事实是如此，做好心理准备总好过坐以待毙得不清不楚。

楼主的资料只是分享，个人不觉得是落井下石。

总好过《光华日报》的报道，那些”消息说“， ”据国外媒体报导“，我想，楼主的消息还有出处，比起来比较可靠。

谁懂？莫非，那报道是根据这贴而写的？

刀神

原帖由 亮帅 于 2-3-2009 07:39 PM 发表
我不觉得每个人会喜欢坏消息，但是事实是如此，做好心理准备总好过坐以待毙得不清不楚。

楼主的资料只是分享，个人不觉得是落井下石。

总好过《光华日报》的报道，那些”消息说“， ”据国外媒体报导“，我想， ...

不出奇，光华的记者有名“记者不出门，能知天下事"

AMDME

Mr. Biz 每天都去Google Finance copy and paste 的。。。。yahoo finance 也有一大堆。。。
本人也是觉得Mr Biz 有点扇风点火的感觉 （唯恐天下不乱）。。。。 我虽然是以前的员工，却也很心痛和不开心

壮志凌云

一天掉 60%

Mr.Business

新闻。

KYEC and PTI claim no affect from Spansion bankruptcy filing
Ingrid Lee, Taipei; Jessie Shen, DIGITIMES [Tuesday 3 March 2009]

Taiwan's memory packaging and testing houses King Yuan Electronics Company (KYEC) and Powertech Technology Incorporated (PTI) have filed statements via the Taiwan Stock Exchange (TSE) in response to Spansion's just-announced bankruptcy filing. Both remarks follow a February 24 statement released from ChipMOS Technologies, which said its service agreement with the US client was officially terminated on February 19.

KYEC pointed out that it substantially cut back cooperation with Spansion from the fourth quarter of 2008. The company also said its equipment used for testing Spansion NOR flash has been shifted to fulfill orders from other customers such as Etron Technology, Elite Semiconductor Memory Technology (ESMT) and Winbond Electronics.

PTI noted that the company stopped providing backend services to the US flash chipmaker in late 2008. The company also claimed that its shipments to Spansion accounted for less than 0.5% of its overall sales last year.

ChipMOS, which is Spansion's major testing partner in Taiwan, said in the earlier statement that accounts receivable from the US client currently total around US$73 million, of which US$29 million is in default. In 2008, ChipMOS' shipments to the NOR flash giant contributed 21% to its full-year revenues.

In additional news, Advanced Semiconductor Engineering Incorporated (ASE), which has partnered with Spansion to establish a joint venture in China, will be required to discontinue the memorandum of understanding (MOU) that was made last October, according to industry sources.

Winbond Electronics, which supplies pseudo SRAM to Spansion, said that the company adopted cash dealings after the NOR flash customer's subsidiary in Japan filed for corporate restructuring in February.

In related news, market watchers have suggested that Spansion's counterparts Numonyx of Europe and Taiwan's Macronix International Company (MXIC), as well as US-based NOR flash design company Silicon Storage Technology (SST) are expected to benefit from shifting orders. Spansion's insolvency filing will also help stabilize NOR prices.

http://www.digitimes.com/news/a20090303PD214.html

penangbjboy

Spansion Inc.(NasdaqGS: SPSN)<br />
After Hours: 0.016&nbsp;&nbsp;-0.00 (-1.23%) 4:41pm EThelp<br />
Last Trade: 0.0162 <br />
Trade Time: 4:00pm ET <br />
Change:&nbsp;&nbsp;0.0035 (17.77%) <br />
Prev Close: 0.0197 <br />
Open: 0.0238 <br />
Bid: 0.0128 x 10000 <br />
Ask: 0.018 x 152400 <br />
1y Target Est: 0.48 <br />
Day's Range: 0.013 - 0.0238 <br />
52wk Range: 0.01 - 3.70 <br />
Volume: 4,347,517 <br />
Avg Vol (3m): 1,844,850 <br />
Market Cap: 2.61M <br />
P/E (ttm): N/A <br />
EPS (ttm): -2.702 <br />
Div & Yield: N/A (N/A)

penangbjboy

昨晚又下17。77%

Spansion Inc.(NasdaqGS: SPSN)
After Hours: 0.016 -0.00 (-1.23%) 4:41pm EThelp

Last Trade:	0.0162
Trade Time:	4:00pm ET
Change:	0.0035 (17.77%)
Prev Close:	0.0197
Open:	0.0238
Bid:	0.0128 x 10000
Ask:	0.018 x 152400
1y Target Est:	0.48

Day's Range:	0.013 - 0.0238
52wk Range:	0.01 - 3.70
Volume:	4,347,517
Avg Vol (3m):	1,844,850
Market Cap:	2.61M
P/E (ttm):	N/A
EPS (ttm):	-2.702
Div & Yield:	N/A (N/A)

[ 本帖最后由 penangbjboy 于 4-3-2009 09:42 AM 编辑 ]

明明明

看来是厄运难逃了

Mr.Business

新闻。

Spansion: Operations as usual as firm revamps
By Marina Emmanuel
Published: 2009/03/04

US FLASH memory chipmaker Spansion Inc, which on Sunday filed for bankruptcy protection in the US, expects its operations worldwide to continue as normal while the company restructures.

"We expect minimal impact to our operations in Penang and are likely to be operating as usual throughout the reorganisation period," Spansion Inc's corporate and wireless public relations manager Courtney Brigham told Business Times in an email interview.

Spansion had filed a voluntary petition for reorganisation under Chapter 11 of the US Bankruptcy Code as part of a strategy to strengthen its financial position and focus its business for long-term success.

Stating that only Spansion's US and Japan subsidiaries were involved in the protection filings respectively, Brigham added: "The Chapter 11 filing should have little, if any, impact on the jobs and day-to-day responsibilities and activities of most employees".

Asked if Spansion is planning further job cuts in addition to the 3,000 globally which was announced by the company last week, she said that no future layoff plans have been announced.

Sunnyvale, California-based Spansion began as a joint venture between Advanced Micro Devices Inc and Fujitsu Ltd in 1993.

Brigham said Spansion's recently announced reduction in workforce was a worldwide action affecting most locations.

"We are not providing breakdowns of affected personnel by regions or facilities," she added, saying that the majority of the job reductions were in manufacturing locations "to align output with the expectations for reduced revenue".

Penang Chief Minister Lim Guan Eng last week said the State Manpower Department had informed state authorities that a voluntary separation scheme (VSS) is being instituted by Spansion in Penang.

http://www.btimes.com.my/Current ... s/spanlagi/Article/

johntkh76

哇!这样惨，真的害死人啊，经济。

lion_o

股票直接降到没价值去  
好恐怖

宇晴

有没有真正在Spansion里面的人出来update两句?

layoff list出来了吗??

dreamladies

收到forward mail, 一针见血，Spansioneer 的心声

暴风侵袭的前夕
这星期将会是在这公司任职以来最令人刻骨铭心，抑或该形容为痛彻心痱的一周，或许没亲眼目睹的你难以想象这眼前的一幕。 订在周二（周一shutdown）的Management Meeting是空前绝后的拥挤，一大群的员工蜂拥而出，在走向另一座大楼时，那神色凝重，焦虑不安的神情，让人有点难民迁徒的错觉。还看到有人还用手机留住当时的气氛。在开始这残酷的大会时，我们的VP看到被人群挤爆的食堂，还开了个黑色笑话，说今天唯一的好消息是从来没看过比今天更高出席率的Management Meeting， 因每次的会议总是小猫两三只而已。顿时笑声四起，只是，这笑声中不知隐藏了多少的恐惧与悲伤。
之后的几天，都有看到某些老板在食堂请他们一大群的员工PIZZA 或 McD 作为Farewell. 我从没看过的比这还伤感的Farewell, 因为没有人知道谁将会“榜上有名”。像在出征前最后的聚会，不晓得谁将会被壮烈牺牲，怕只怕在苟延残喘中留下的活口并不是一件多幸运的事。
昨天看到在中国和美国的公司如何处理这事的手法，让我在看后立刻毛骨耸然。虽然没什么和他们打交道，但身为同一只船的我们，或多或少都会有些心有余悸。
今天听到朋友V 传来的坏消息，在祝福他之余，未免也会替他感到担忧。在少了65%员工之后，将会是怎样的情景？迟到不怕没车位，食堂再也不会有长龙的出现。谁都不想享有这些“好处”的。我们宁愿找不到车位，宁愿排长龙，可是。。。可是。。。这一切一切，将会成为一页页辉煌的历史。下星期后，食堂早餐中的拥挤，笑声，谈话声；还有我们眼中的俊男F, 高大的K, 友善的G。。。不知是否只会成为往后笑谈中的往事。
以前总不明白为何人们总要哀声叹息，总是很厌恶这种声音，在想，难道叹气后会更好吗？除了让听到的人感到厌恶以外，我总是搞不懂。直至近日，家里，公司和感情的困扰，也许加上未痊愈的感冒，不知不觉中总会不由自主地叹了叹息。我当然知道这解决不了问题，但。。。但。。。似乎这是唯一能暂时舒缓压力的不二法门。
希望快点能看到雨后的彩虹！

khawyc

明天过后，在槟城飞索的笑声，谈话声，慢慢减少了。。。

福心人

原帖由 宇晴 于 4-3-2009 10:49 AM 发表
有没有真正在Spansion里面的人出来update两句?

layoff list出来了吗??

layoff list星期五才出来。。。。

khawyc

今天飞索展开残酷行动。。。笑声逐渐消失，换来之是一片愁云惨雾，满脸泪水，淹没每个员工的心。

Dez

原帖由 khawyc 于 6-3-2009 03:34 AM 发表
今天飞索展开残酷行动。。。笑声逐渐消失，换来之是一片愁云惨雾，满脸泪水，淹没每个员工的心。

什麼残酷行动 ﹖ 可以 UPDATE 一下嗎 ﹖

我有朋友在裡面做﹐不知道有沒有受影響。。。。