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

亮帅

可是，这是Dell的高层讲的。而且，bukit minyak 的厂也没有这么多人吧？

政府要盖？怎么盖？难啊。

只是，新闻就可以基于“消息”及路边社新闻就来报吗？

Mr.Business

Spansion申请破产重组。

Flash memory company Spansion files for bankruptcy

52 minutes ago

SUNNYVALE, Calif. (AP) — Struggling flash memory maker Spansion Inc. and its U.S. subsidiaries filed for Chapter 11 bankruptcy protection Sunday, in an effort to restructure $625 million worth of debt as the company continues to explore a possible sale or other alternatives.

The news comes a week after Spansion, one of the world's largest makers of chips used in digital cameras, cell phones and high-definition televisions, said it would slash its global work force by 35 percent, or 3,000 employees.

Demand for flash and chip-based memory is on the decline as sales of electronics which use Spansion's chips dip amid the weak global economy.

Spansion said Sunday it decided to file for bankruptcy following consultation with a lender group holding the company's senior secured floating rate notes due in 2013. The company is in talks with the bondholder group about providing debtor-in-possession financing for its long-term cash needs.

"Given our focus on Spansion's future, management and the board have concluded that chapter 11 provides the most effective means for Spansion to preserve its business, meet its post-petition obligations and maintain customer confidence and continuity while we complete this restructuring," said President and CEO John Kispert, in a statement Sunday.

Sunnyvale, Calif.-based Spansion, founded in 1993, was a joint venture between chip-maker Advanced Micro Devices Inc. and Fujitsu Ltd. In January, Spansion said it would restructure its balance sheet and seek a sale or merger. Chief Executive Bertrand Cambou was recently replaced by John Kispert, the former president of KLA-Tencor Corp. Earlier this month Spansion's Japanese unit filed for bankruptcy, and Taiwan-based ChipMOS, a provider of chip testing and assembly services, terminated its contract with Spansion LLC over the company's default on $29 million out of $73 million in trade debt.

Spansion, and its U.S. units — Spansion LLC, Spansion Technology LLC, Spansion International, Inc. and Cerium Laboratories LLC — filed their voluntary petitions in Delaware bankruptcy court. Spansion said the filings constitute defaulting on its debt.

The company said it plans to realign its business to focus on flash memory products, Internet Protocol services and the profitable parts of its wireless segment going forward.

"We will continue to explore opportunities for a strategic transaction to ensure that we are doing all we can to maximize value for our stakeholders," Kispert added.

Spansion shares have been steadily declining over the past three years, peaking in the mid-double-digit range in 2006 but falling to $3.70 by last spring. The stock closed at five cents on Friday.

http://www.google.com/hostednews ... R9ma2mV3ugD96LIII00


Spansion files for bankruptcy protection from creditors
By Steve Johnson
Mercury News
Posted: 03/01/2009 04:27:24 PM PST

Spansion, the Sunnyvale computer chipmaker that triggered outrage when it laid off 3,000 workers this week while increasing the pay of some executives, on Sunday filed for bankruptcy protection from its creditors.

In its Chapter 11 petition, filed in U.S. Bankruptcy Court in Delaware, the company listed about $3.8 billion in assets and nearly $2.4 billion in debts.

But John Kispert, who was hired on Feb. 4 to replace retiring Chief Executive Bertrand Cambou, said in an interview that the company had just $100 million in cash, which is not projected to last long because he said Spansion's operating expenses are about $30 million a week.

"Chapter 11 is a difficult decision," said the 45-year-old Kispert, former chief operating officer and president at KLA-Tencor, a Milpitas company whose products help make computer chips. "It really provides this company the most effective means to preserve our market position and to maintain customer confidence."

http://www.mercurynews.com/topstories/ci_11814693?nclick_check=1

Mr.Business

相关新闻。

Spansion Announces Strategic Actions to Strengthen Its Financial Position


- Files for Chapter 11 Protection in the United States

- Intensifies Focus on Profitable Segments

- Continues to Aggressively Pursue Strategic Alternatives

- In discussions regarding DIP financing

SUNNYVALE, Calif., March 1 /PRNewswire-FirstCall/ -- Spansion Inc. (Nasdaq: SPSN), the world's largest pure-play provider of Flash memory solutions, today filed a voluntary petition for reorganization under chapter 11 of the U.S. Bankruptcy Code as part of its strategy to strengthen its financial position and focus its business for long-term success. The company's strategic plan is designed to restructure its burdensome debt obligations and intensify its focus on market segments with greater profit potential. Each of Spansion's domestic subsidiaries also simultaneously filed chapter 11 petitions.

"Given our focus on Spansion's future, management and the Board have concluded that chapter 11 provides the most effective means for Spansion to preserve its business, meet its post-petition obligations and maintain customer confidence and continuity while we complete this restructuring," said President and CEO John Kispert. "At the same time we will continue to explore opportunities for a strategic transaction to ensure that we are doing all we can to maximize value for our stakeholders."

The decision to seek chapter 11 protection was made in consultation with an ad hoc consortium of holders of Spansion's $625 million Senior Secured Floating Rate Notes due 2013. Spansion continues to be actively engaged in constructive discussions with this ad hoc consortium for the development of a plan of reorganization that would permit Spansion to emerge quickly from chapter 11 in a stronger financial and competitive position and for the continued exploration of multiple proposals from multiple parties seeking a strategic transaction.

The company believes that its current and anticipated cash resources will be sufficient to pay its expenses and maintain its business operations while it explores and implements options to address its long-term cash needs. Among other things, the company is in discussion with the ad hoc consortium about providing a debtor-in-possession (DIP) credit facility, while also simultaneously pursuing other options intended to provide the company with additional liquidity for its long-term cash needs.

Spansion emphasized that it intends to maintain customer service throughout the reorganization. "We will be intensely focused on continuing to provide our customers with superior engineering and world-class customer support," Kispert said.

As previously announced, on February 9, 2009, Spansion's Japanese subsidiary, Spansion Japan Ltd., voluntarily entered into a proceeding under the Corporate Reorganization Law (Kaisha Kosei Ho) of Japan to obtain protection from its creditors as part of the company's restructuring efforts. None of Spansion's subsidiaries in countries other than the United States and Japan are included in the U.S. or Japan filings.

Spansion Intensifies Focus on Profitable Segments

Spansion also said it plans to align its business to focus on products and segments in the embedded, IP solutions and wireless markets that have the highest profit potential.

"With our valuable portfolio of industry leading products and technology, we believe Spansion has a promising future," Kispert said. "By focusing on embedded Flash memory products, IP solutions, and the profitable portions of the wireless segment, we believe Spansion can leverage its diverse product portfolio and customer relationships while we continue our restructuring process and explore opportunities for a strategic transaction."

Spansion, Spansion LLC, Spansion Technology LLC, Spansion International, Inc. and Cerium Laboratories LLC filed their voluntary petitions for relief under chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The chapter 11 filings by Spansion and its domestic subsidiaries are events of default under Spansion's debt instruments.

http://news.prnewswire.com/Displ ... 04980609&EDATE=


Anger grows as Spansion files for bankruptcy







Mark LaPedus
Page 1 of 3
EE Times
(03/01/2009 6:27 PM EST)

SAN JOSE, Calif. -- Spansion Inc., the world's largest NOR flash supplier, has filed for bankruptcy amid growing anger among former employees at the company.

In a release issued on Sunday (March 1), Spansion said it will continue to pursue strategic alternatives, including the sale of the firm. But for now, and as expected, it has filed a voluntary petition for reorganization under chapter 11 of the U.S. Bankruptcy Code.

Each of Spansion's domestic subsidiaries also simultaneously filed chapter 11 petitions. Spansion, Spansion LLC, Spansion Technology LLC, Spansion International Inc. and Cerium Laboratories LLC filed their voluntary petitions for relief under chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The chapter 11 filings by Spansion and its domestic subsidiaries are events of default under Spansion's debt instruments.

As previously announced, on Feb. 9, Spansion's Japanese subsidiary, Spansion Japan Ltd., voluntarily entered into a proceeding under the ''Corporate Reorganization Law'' of Japan to obtain protection from its creditors as part of the company's restructuring efforts.

None of Spansion's subsidiaries in countries other than the United States and Japan are included in the U.S. or Japan filings.

The decision to seek chapter 11 protection was made in consultation with an ad hoc consortium of holders of Spansion's $625 million Senior Secured Floating Rate Notes due 2013.

Spansion (Sunnyvale, Calif.) continues to be engaged in discussions with this ad hoc consortium for the development of a plan of reorganization. It would permit Spansion to emerge from chapter 11 in a stronger financial and competitive position and for the continued exploration of multiple proposals from multiple parties seeking a strategic transaction.

The company believes that its current and anticipated cash resources will be sufficient to pay its expenses and maintain its business operations while it explores and implements options to address its long-term cash needs.

"Given our focus on Spansion's future, management and the board have concluded that chapter 11 provides the most effective means for Spansion to preserve its business, meet its post-petition obligations and maintain customer confidence and continuity while we complete this restructuring," said President and CEO John Kispert, in a statement. "At the same time we will continue to explore opportunities for a strategic transaction to ensure that we are doing all we can to maximize value for our stakeholders."

http://www.eetimes.com/news/semi ... articleID=215600125

Chain of events
Spansion has seen its share of ups--and mostly downs. In 2005, Advanced Micro Devices Inc. (AMD) and Fujitsu Ltd. spun-off their NOR product groups into a new and independent operation called Spansion.

But since the spin-off, it's been an uphill battle for loss-ridden Spansion. In 2005, the company filed for an IPO amid a capacity glut and falling product prices.

Amid a string of losses, declining funds and a major downturn, Spansion earlier this year implemented another round of cost-cutting measures. As early as January, rumors were running rampant that Spansion is mulling a plan to file Chapter 11 protection.

At one time, there were other rumors about Spansion, including a report that Japan's Toshiba Corp. would acquire the company. Micron Technology Inc. is also reportedly looking at Spansion.

In January, the company confirmed that it has been exploring strategic alternatives, ''including, but not limited to, opportunities to merge with or sell to similar U.S. or foreign businesses.''

Also in January, Taiwanese IC-packaging and test house ChipMOS Technologies Ltd. delivered a notice of breach and notice of intent to terminate a service agreement with Spansion. Spansion currently has an outstanding account receivable with ChipMOS of approximately $57 million of which approximately $18 million is in default, according to the IC-packaging house. ChipMOS provides IC-packaging and test services for Spansion.

Last month, Bertrand Cambou resigned as president and chief executive from NOR-flash giant Spansion amid losses and other problems. Then, the NOR flash leader named John Kispert, former president and COO of KLA-Tencor Corp., as its new chief executive and member of the board.

http://www.eetimes.com/news/semi/showArticle.jhtml;jsessionid=NPWFPKBMTBOIWQSNDLPSKH0CJUNN2JVN?articleID=215600125&pgno=2

Mad ex-workers
Spansion's new president and chief executive is entitled to a bonus of $1.75 million--if he can find a buyer or white knight for the troubled memory company, according to a recent filing. The company also delayed making the interest payments on its senior notes.

Last week, there were reports that the company would cut 3,000 jobs, or about 35 percent of its workforce, over time, industry sources said. Despite layoffs and losses, Spansion reinstated full pay for many of its executives.

This angered employees who were impacted by the layoffs. ''Spansion's ex-employees are outraged on how the company handles layoff in the U.S. None of the U.S. employees got any advanced notices or severance or medical benefit extension,'' said one former employee.

''It seemed like all last week, there were rumors that each day would be the day that layoffs would happen but then nothing would happen. Then, on Thursday, we get word that an executive VP tried to save his own hide by offering up the skins of a lower VP and a director,'' said another ex-employee.

Regarding the layoff, ''we got zero severance pay. Just vacation accrued and 35 percent of Cobra for 4 months,'' said the former worker. ''Pretty crappy.''

''My comments would have centered on the craziness of cutting everyone's salary 10 percent, just like they did at AMD, then laying off about one-third of the workforce,'' said another upset former employee.

''After that the execs pay was re-instated under the guise of a retention bonus. Why would you want to retain a bunch of people who ran the business that badly? And if you did want to retain them, you really don't need to pay them any kind of retention bonus because they are not going to find a job anywhere else in this economy,'' the source added.

http://www.eetimes.com/news/semi ... 15600125&pgno=3

燊jshen15

我也有嘛！！。。我paste给你看。。。。
我看你很有文采，对spansion了如指掌，莫非你是XXX高层？我建议你把的心思放在公司吧！！SPSN就是给这种高薪职员拖累的。。。不要在浪费时间了在这种无谓的小动作。。好吗？

Udon

原帖由 cyrus_sun 于 28-2-2009 10:34 PM 发表
听所MCP要解散是吗？？？？

不要听说啦 ...... 听说会死人的.

Udon

原帖由 亮帅 于 1-3-2009 11:55 PM 发表
其实，这新闻的消息说可靠吗？如果说是里头的员工消息，那《光华日报》有没有找Spansion人事部询问呢？

而且，Dell会裁1万多人？The Star 报道说Dell在马来西亚只有5000人而已：http://biz.thestar.com.my/news/s ...

人数可能包括合约员工

Udon

原帖由 燊jshen15 于 2-3-2009 08:08 AM 发表
在工业区最危急的时候，MR BXXXXNXXS 不但没有鼓励人家，反而落井下石。这种态度很可耻。。。

如何说是落井下石??
要如何鼓励?

yukictc

原帖由 燊jshen15 于 2-3-2009 09:44 AM 发表
我也有嘛！！。。我paste给你看。。。。
我看你很有文采，对spansion了如指掌，莫非你是XXX高层？我建议你把的心思放在公司吧！！SPSN就是给这种高薪职员拖累的。。。不要在浪费时间了在这种无谓的小动作。。好吗？

讲真我也是怀疑他的动机，是好心相告，还是来看热闹。这种心情只有SPANSION的员工才能深切体会。
可是算了吧！世态炎凉，不要期盼有人雪中送炭，只求没人落井下石。

thierry_henry

楼主只是想分享一些报导吧.
平常心看待就好.

Mr.Business

其实我是想与大家分享讨论和追踪Spansion事件的进展，没有落井下石的意思。一些事情不是我们可以控制的，可至少我们可以了解其因果关系，以作出适当应对。

Udon

原帖由 thierry_henry 于 2-3-2009 12:17 PM 发表
楼主只是想分享一些报导吧.
平常心看待就好.

有同感 ..... 其实LZ只不过是讲事实, 贴报道.
就如每当有FTZ 工厂要减薪, 裁员或放大假的消息时, 就有人说这是落井下石 ...... 其实落井下石和讲事实, 大家应该都能分得很清楚.
除非有人要做驼鸟, 没有人讲起就当没事发生 ....... 要知道, 讲不讲都好, 事实就是事实 ..... 如果觉得报道不实而反驳, 那就另当别论.

Udon

原帖由 Mr.Business 于 2-3-2009 12:19 PM 发表
其实我是想与大家分享讨论和追踪Spansion事件的进展，没有落井下石的意思。一些事情不是我们可以控制的，可至少我们可以了解其因果关系，以作出适当应对。

其实要如何落井下石我也不知道 ...... 难道贴个报道就可以落井下石??? 那么有影响力?
如果不贴报道就不裁员吗? 太天真了吧.

黄宗泽

原帖由 风雨逍遥 于 3-2-2009 12:07 PM 发表
我女性朋友的男朋友惨鸟！
唉！身为她朋友，我只好暂时帮她男友蕉顾她了。。。

我的女神在里面工作，看来是我一个大好机会了

江湖

原帖由 Mr.Business 于 2-3-2009 12:19 PM 发表
其实我是想与大家分享讨论和追踪Spansion事件的进展，没有落井下石的意思。一些事情不是我们可以控制的，可至少我们可以了解其因果关系，以作出适当应对。

请你继续... 别理井底蛙

=[Zone]=

如果你们是里面的员工看到有人一直发布对公司不利的消息,难免会有点激动吧.

希望各位体谅下他人

当然我也相信楼主只是分享讯息而已,并没恶意的,和气生财..

yukictc

原帖由 Udon 于 2-3-2009 12:42 PM 发表


其实要如何落井下石我也不知道 ...... 难道贴个报道就可以落井下石??? 那么有影响力?
如果不贴报道就不裁员吗? 太天真了吧.

当然不会因为不贴报导就不裁员。。。
只是有些负面的言论(是言论，不是报导),的确会带很多负面的能量给受影响的员工。
不是逃避现实，而是希望大家可以顾及现实发生后，员工们的感受。
我举个例子吧，今早受到的SMS：
your company filed bankruptcy. I'm sad to hear that.

其实是朋友的一番心意，而且在收到这封SMS之前也知道了这件事。
我只是想对受影响的员工的家属及朋友们说，
告诉他们你们多么的为他们担心或感到难过并不会帮助到他们什么，
而只是加重了他们的心理负担。

f_ly

楼主转帖的新闻让我们可以掌握一些现时的工业动态。想转行的，想投资的，正在学习的都可以用上这些资料。谢谢楼主的分享。

原帖由 Mr.Business 于 2-3-2009 12:19 PM 发表
其实我是想与大家分享讨论和追踪Spansion事件的进展，没有落井下石的意思。一些事情不是我们可以控制的，可至少我们可以了解其因果关系，以作出适当应对。

*p/s: 个人建议
- 我觉得楼主所贴的都是不错的分享。楼主所贴的新闻，虽然来源都不一样，但有些都是报道相似的消息，所以难免让人觉得有点反感。但是个人依然觉得楼主的出发点是好意的。
建议楼主如果所报道的新闻是一样的，那就update links在原本的新闻回复里会比较妥当，一来可以证实新闻的可靠性，二来又可以让贴子更简明些。

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