We have some very unfortunate news to share with you.
As you know, our business requires a great deal of cash to fund the raw materials, equipment and other resources necessary for wafer production. While we had hoped to continue operations in Richmond during the Qimonda AG insolvency filing, we are now in a situation where our manufacturing and other costs exceed our ability to pay for them.
The company has made the decision to ramp down all production in Qimonda Richmond. Currently, we are completing wafer testing but do not expect to continue manufacturing beyond that. During the ramp down process, tools and equipment will be brought to a “safe” state and idled.
This action will affect all employees at the facility. The shut down will be extremely fast. We expect about 500 people to leave the company today and tomorrow, and another 500 will leave over the next 30 days. Once we reach an idle state at the end of April, we expect to have only 50-60 people remain as a skeleton crew.
In addition, business conditions have changed radically from the time we announced the QR2 ramp down to today. Unfortunately, Qimonda is no longer in a financial position to provide for severance benefits.
Twelve years ago we broke ground at this site, and this factory has an outstanding record. You should be very proud of QR’s accomplishments. All of you have put so much hard work in making the fab a success over the years.
We are all terribly saddened by this decision, but given our current situation it was unavoidable.
We will be holding all-hands meetings and small group sessions today and tomorrow in Richmond to cover all shifts, and you will receive more detailed information on next steps.
We want to thank you for all of your hard work.
Sincerely,
Miriam Martinez
President & CFO
Qimonda North America
Thomas Fu
VP and Managing Director
Qimonda Richmond
http://blogs.barrons.com/techtraderdaily/2009/02/03/qimonda-the-internal-memo-on-the-richmond-shutdown/
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