There are multiple reasons why the current employees of both Spansion and Cypress may not
want to remain with the combined company. To begin with, at any given point in time, enough
people are interviewing at Cypress to contribute to our turnover rate, which was about 9% last
year. The same is true at Spansion. Indeed, for any company with a turnover rate of about
10%, about that percentage of its employees will be interviewing at any one time. For the
combined 7,259 employees of our companies, that equates to over 725 people interviewing, as I
write this letter.
There are multiple reasons why the current employees of both Spansion and Cypress may not
want to remain with the combined company. To begin with, at any given point in time, enough
people are interviewing at Cypress to contribute to our turnover rate, which was about 9% last
year. The same is true at Spansion. Indeed, for any company with a turnover rate of about
10%, about that percentage of its employees will be interviewing at any one time. For the
combined 7,259 employees of our companies, that equates to over 725 people interviewing, as I
write this letter.
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