Feeds

Melting flash-mem giant Spansion files for Chapter 11

Ex-CEO vows return of golden handshake

Protecting users from Firesheep and other Sidejacking attacks with SSL

The Handshake

Just weeks earlier, Cambou received $751,000 in severance after resigning, while inking a six-month consulting deal with the company. Cambou says that all but $403,000 of the severance went to taxes. And he hopes to return all of that $403,000.

Amidst the layoffs, the company's board of directors also voted to reverse earlier pay cuts for certain execs and other remaining employees. Three days later, two separate employment lawsuits were filed against the company, both of them claiming it had violated 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."

Spansion did not notify employees until the day they were laid off, but it claims an exemption under the WARN Act. It has not, however, specified what that exemption is.

Paula Rao was among the roughly 200 former employees who gathered at a Silicon Valley pizzeria on Thursday afternoon to protest the company's action and discuss the eventual lawsuits. A former engineer in the company's now-shuttered Sunnyvale R&D plant, she says Cambou deserves nothing but praise.

"I think that Bertrand should be acknowledged for what he did," she told The Reg. "I don't know if he knew when he left the company layoffs were on the horizon. Even if he did, he may not have known the details of how they would be handled. The fact that once he became aware of the situation, he had enough compassion to do what he did - you don't encounter many people these days that would have returned that much money by their own choice.

"I guess he felt he just couldn't keep it knowing the rest of us got nothing. I believe his gesture was from his heart and not motivated by trying to change his perception in the press."

Following its bankruptcy filing, Spansion says it will focus on embedded, IP-solutions, and wireless markets, as these 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." ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.