Spansion CEO Quits, Chip Maker Seeks Buyer
Tue, Feb 3rd, 2009
The head of flash memory chip maker Spansion resigned on Tuesday and the company announced it will restructure, including seeking a sale or merger.
The company stands to become the second major IT victim to the global economic downturn after Germany's Qimonda, which filed for bankruptcy protection last month. A memory chip glut sent prices down over a year and a half ago, sending many chip makers into the red. The economic downturn has exacerbated their problems by hurting demand and making loans harder to come by.
Read the whole story on PC World
