Silicon Storage to layoff 120, or 17 percent of workforce

Posted by Jack Davis on December 20th, 2008 at 9:42 pm | Categorized as Economic slowdown, Layoffs, Silicon Storage Technology | Tagged as Economic slowdown, Layoffs, Silicon Storage Technology

Silicon Storage Technology, the Sunnyvale maker of flash memory, said it is in the process of cutting 120 employees, or 17 percent of its staff, according to a filing it made Friday. The action is being taken “to streamline the organization going forward” so as to “to reflect changes in anticipated levels of business.”

With so many companies laying off employees, the chance for a change in “anticipated levels of business” going forward keeps getting better and better.

The terminations are expected to cost the company $2.8 million, “nearly all of which” is going to expected severance payments, which works out on average to about $23,333 per employee. The company expects to complete the layoffs by Dec. 31 — Happy New Year.

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Monday Microsoft Layoff Rumors and GM Dumps 1,000 in Dayton « The Layoff List:
[...] via Silicon Storage to layoff 120, or 17 percent of workforce | Docu-Drama. [...]
--December 22, 2008 @ 5:14 am
Silicon Storage to layoff 120, or 17 percent of workforce « LayoffBlog.com:
[...] — DF @ 3:14 pm Tags: Silicon Storage layoff, Silicon Storage Technology layoff According to SJ Mercury News blog: “Silicon Storage Technology, the Sunnyvale maker of flash memory, said it is in the process [...]
--December 22, 2008 @ 3:15 pm

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