Silicon Storage to layoff 120, or 17 percent of workforce
According to SJ Mercury News blog: “Silicon Storage Technology, the Sunnyvale maker of flash memory, said it is in the process of cutting 120 employees, or 17 percent of its staff, according to a filing it made Friday.”
“The terminations are expected to cost the company $2.8 million, “nearly all of which” is going to expected severance payments, which works out on average to about $23,333 per employee.”
