Chipmaker paints bleak economic picture
Chartered Semiconductor, which builds chips for companies like IBM and Samsung, says it is looking at a bleak economic picture for the coming months.
Update: Infineon Technologies, a German chipmaker, announced Friday that it would lay off 3,000 workers due to the "levels of risk in the current market conditions."
Chartered CEO Chia Song Hwee issued a cautionary statement when the company announced earnings late Thursday afternoon. "We continue to be cautious about the worsening economic situation," he said, adding that Chartered is "dealing with the challenges of...crude oil price increases" and &… Read more
