General Semi to close Irish fab
Move to cull 670 jobs
US-based General Semiconductor is to close its County Cork, Ireland fab with the loss of 670 jobs.
The closure is part of a worldwide cost-cutting programme which is intended to streamline the company's workforce by 23 per cent. The closure of the Irish plant, at Macroom, County Cork, will eliminate 13 per cent of GS' headcount.
Production at the plant will be run down between now and the end of the year. Its output will be switched to GS' facilities in the Far East.
Behind it all is - yes, you guessed it - the economic slowdown and what GS calls and "unprecedented" drop in demand. GS makes simple semiconductor components for mobo and peripherals builders.
"The semiconductor market's unprecedented downturn made the steps taken today a necessary business decision," said GS CEO Ronald Ostertag.
GS' announcement follows hard on the heels of PC maker Gateway's decision of close its European HQ, also located in Ireland, with the loss of 900 jobs. ®