NEWS DESK
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Hewlett-Packard plans to cut 24,600 jobs
HP intends to implement a restructuring the course of the programme, with nearly billion. These savings are net of re-
programme for the EDS business group half of the reductions occurring in the investments in areas including sales
that will better align the combined United States. HP will provide employees coverage, delivery optimisation and
company’s overall structure and efficiency affected by this restructuring programme emerging markets.
with the operating model that HP has with severance packages, counselling and
successfully implemented in recent years. job placement services. With the acquisition of EDS, HP has the
industry’s most comprehensive portfolio
In addition to making changes to its HP expects to replace roughly half of of IT solutions to help customers manage
global workforce to better serve its these positions over the next three years and transform their technology
services customers, HP has identified to create a global workforce that has the environments. The company also will
synergies in corporate overhead functions, right blend of services delivery announce plans to restructure the EDS
such as real estate, IT and procurement. capabilities to address the diversity of its business group to streamline costs, invest
markets and customers worldwide. in growth and drive shareholder value.
The restructuring programme will take
place over three years and includes a HP will be recording a charge of $1.7 “HP now has the broadest technology
workforce reduction that will streamline billion in the fourth quarter of fiscal 2008 capabilities in the market to meet
the combined company’s services relating to the restructuring programme, customer needs today and in the future,”
businesses. Workforce reduction plans $1.4 billion of which will be recorded as said Mark Hurd, HP chairman and chief
will vary by country, based on local legal goodwill and $0.3 billion of which will be executive officer. “HP has a strong track
requirements and consultation with works recorded as a restructuring charge that record of making acquisitions and
councils and employee representatives, as will be included in HP’s GAAP financial integrating them to capture leading
appropriate. results. market positions. We will deliver on the
promise of HP and EDS for our
Approximately 7.5 percent of the Once completed, the restructuring customers and shareholders.”
combined company’s workforce, or about programme is expected to result in annual
24,600 employees, will be affected over cost savings of approximately $1.8 HP will announce its future plans soon.
Increase of capacity Take a slice of solar power
Vishay Intertechnology announced the acquisition of a specialty University of Utah engineers devised a new way to slice thin
capacitor (wet tantalum) product line from KEMET Corporation wafers of the chemical element germanium for use in the most
for $35.2 million and other consideration in the form of a three efficient type of solar power cells. They say the new method
year term loan of $15 million. should lower the cost of such cells by reducing the waste and
breakage of the brittle semiconductor. The expensive solar cells
Sales of these products during Kemet’s fiscal year ended March now are used mainly on spacecraft, but with the improved wafer
31, 2008 were approximately $16.0 million, of which slicing method, “the idea is to make germanium based, high
approximately $7 million represent former Arcotronics products efficiency solar cells for uses where cost now is a factor,”
(acquired last year by KEMET) sold mostly outside of the US particularly for solar power on Earth, says Eberhard “Ebbe”
and approximately $9 million of original KEMET products sold Bamberg, an assistant professor of mechanical engineering. “You
mostly in the US. Worldwide sales during the quarter ended June want to do it on your roof.”
30, 2008 were $4.4 million. Closing is scheduled to occur by the
close of business today. Dinesh Rakwal, a doctoral student in mechanical engineering,
adds: “We’re coming up with a more efficient way of making
Terms of the secured loan of $15 million to KEMET from Vishay germanium wafers for solar cells to reduce the cost and weight
include a three year non amortising maturity, an interest rate of of these solar cells and make them defect free.”
LIBOR plus four percent, security consisting of accounts
receivable currently in the amount of approximately $34 million, Brass coated, steel wire saws now are used to slice round wafers
and certain limited events of default. of germanium from cylindrical single crystal ingots. But the
brittle chemical element cracks easily, requiring broken pieces to
Dr. Felix Zandman, Executive Chairman of the Board and Chief be recycled, and the width of the saws means a significant
Technical and Business Development Officer, and Dr. Gerald amount of germanium is lost during the cutting process. The
Paul, President and CEO, stated, “With this acquisition we sawing method was developed for silicon wafers, which are
broaden our product portfolio in specialty capacitors used in roughly 100 times stronger. The new method for slicing solar cell
military, aerospace and medical applications. It fits our strategy wafers, known as wire electrical discharge machining (WEDM) ,
to expand our product offering in specialty lines. wastes less germanium and produces more wafers by cutting
even thinner wafers with less waste and cracking.
October 2008 www.euroasiasemiconductor.com
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