UMC to put chip plants in stasis
Production suspended pending market upturn
UMC is preparing to suspend production at two 8in fabs while demand remains depressed.
However, the company told employees that none of them will lose their jobs as a result of the move.
And in a letter to the workforce, UMC chairman Robert Tsao encouraged staff to remain confident in the company's ability to cope with the downturn.
Tsao's message to the troops is reminiscent of wartime leaders' pronouncements to the home front: just keep your chin up, and it'll be all over by Christmas.
Tsao also said he would be dipping into UMC's NT$80 billion ($2.33 billion) cash reserve to prepare itself for the chip market's revival whenever it comes along. ®