Dec. 8 evening news, the U.S. silicon wafer maker MEMC Electronic Materials (WFR) on Thursday announced plans to lay off 1,300 people worldwide, representing 20% of its workforce to cut costs.
The positions being cut, about 250 in the United States, about 41% in the semiconductor materials sector, 47% of the material in the solar panel.
The company plans included in the fourth quarter and the $ 700 million related to restructuring expenses, and up to $ 675 million of impairment charges.
MEMC is expected in the fourth quarter adjusted loss of 5 cents per share – 10 cents per share, adjusted revenue of 789 million -8.61 million.
Including one-time items, the company expects fourth quarter loss per share of $ 5.20-6.38. Analysts polled by FactSet accepted the company’s earnings per share expected 9 cents on revenue of $ 935 million.
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Dec. 8 evening news, the U.S. silicon wafer maker MEMC Electronic Materials (WFR) on Thursday announced plans to lay off 1,300 people worldwide, representing 20% of its workforce to cut costs.
The positions being cut, about 250 in the United States, about 41% in the semiconductor materials sector, 47% of the material in the solar panel.
The company plans included in the fourth quarter and the $ 700 million related to restructuring expenses, and up to $ 675 million of impairment charges.
MEMC is expected in the fourth quarter adjusted loss of 5 cents per share – 10 cents per share, adjusted revenue of 789 million -8.61 million.
Including one-time items, the company expects fourth quarter loss per share of $ 5.20-6.38. Analysts polled by FactSet accepted the company’s earnings per share expected 9 cents on revenue of $ 935 million.