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Memory chip manufacturer Qimonda AG is shutting down its plant in eastern Henrico County, laying off an additional 1,500 employees
The company began notifying employees this morning that it is ramping down plant operations by April, Qimonda North America spokesman Glen Haley said.
Qimonda will let go about 500 employees today or tomorrow, with another 500 losing their jobs in the next 30 days, a spokesman said. The rest of the employees will be let go as operations wind down.
"This is a tough day for employees," Haley said.
About 1,500 employees work on the production of 300 mm memory chip wafers.
A couple of employees said they are not receiving a severance package. Haley said the company would not comment on the termination packages.
Qimonda has about 300 people still working on a production line for its 200 mm memory chip wafers. The company announced last fall that it was laying off 1,200 employee by March as it idled production in that part of the plant.
The company is shutting down the remaining part of the plant because of weak conditions in the memory chip industry and an inability to get financing.
The plant’s parent company on Jan. 23 filed for insolvency protection in Germany, similar to filing for Chapter 11 bankruptcy protection in the United States.
German Insolvency adviser Michael Jaffé, assigned by the court to oversee the process, told employees in Germany last week that operations would cease if no investors were secured. Jaffé said the company has three options: find investors, sell assets to pay creditors or liquidate.
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