450 souls out of a job
Last modified on Saturday, 08 November 2008 03:52
According to reports in the Israeli media, Sandisk has warned the workers of its Israeli branch to get ready for massive layoffs.
The move is expected to affect around 450 workers worldwide. Sandisk currently employs around 3,000 workers, 650 of whom work in three branches in Israel.
Sandisk admits its financial outlook is bleak, and it has reported losses in Q3 and Q2. Several weeks ago, Samsung pulled its buyout offer for Sandisk, following poor financial results.