German microchip manufacturer Qimonda AG announced today that it will be making drastic cuts, and likely close one of its Eastern Henrico plant that produces 200mm wafers by January. As many as 1,200 Richmond high-tech workers may lose their jobs, although the exact local figure has not been released yet. One source at the company said that the 300mm plant will remain in operation.
According to news reports, the company will wind down manufacturing at the Richmond facility by January, and stop making the wafers that plant produces. The company is also closing a plant in Dresden, Germany.
Early reports say the company plans to implement the changes by the end of the third quarter of the 2009 fiscal year.
The cuts amount to less than half of the local Qimonda workforce, which is around 3,000.
Qimonda’s stock closed Friday at $.83 cents.