Disclaimer

All opinions and views in this blog is entirely mine, and does not reflect any organization that I am affiliated with. And please exercise careful judgment when trading securities. Nothing in this blog should be construed as a recommendation to buy, hold or sell any securities. You do so at your own risk, and do not blame others if the outcome is not in your favour. In case you are wondering, I do not have any securities trading account with any brokerage firms or investment banks.

Tuesday, August 26, 2014

Fairchild To Stop Operating in Penang

Folks,

Fairchild Semiconductor has expressed its intention to close its operations in West Jordan, Utah (US), Bucheon, Korea and Penang, Malaysia.

This was notified by Invest-in-Penang Bhd (Invest Penang) Director Datuk Lee Kah Choon.

He said that Fairchild's plan to consolidate its operation is "regrettable".

As for the staff retrenchment (or downsizing), Invest Penang said that it  is in constant contact with Fairchild to offer job placement options for affected staff, job counselling and other assistance.

"We however take heart that through new investments in Penang as well as expansion and re-investment by existing investors, the job market in the state remains positive," Lee said in a statement yesterday.

As at July 31, 2014, there are some 11,759 jobs available in Penang.

No comments:

Post a Comment