This memo is a follow-up to T.J. Rodgers’s “Merger Update” memo released on February 26, 2015 (TJR-1163). It is intended to communicate additional important information regarding the voluntary RIF that T.J. offered.
As T.J. said,
“If – for any reason – you are currently planning on leaving the company, or do not plan to join Newco, let us know. We will still offer the excellent severance benefit described [in TJR-1163], and more importantly, you will help make room for another employee to join the combined company, rather than them becoming part of the RIF.”
To avoid unnecessary RIFs of your fellow employees, we need your decision soon.
Voluntary RIF Deadline: Tuesday, March 10, 2015, 5:00pm PDT1
T.J.’s memo also discussed the “extraordinarily bright future for Cypress+Spansion”, which is driving Newco’s manufacturing sites to maintain capacity. As manufacturing capacity at the following sites will not be impacted by the RIF, volunteers are not being accepted from manufacturing employees at these locations:
Austin Fab 25 Bangkok Cypress Manufacturing Ltd (CML)
Employees who resigned prior to TJR’s memo publication on February 26, 2015 at 4:53pm PST are not eligible to volunteer for a RIF package.
If you are considering volunteering for the RIF, please contact your HR Business Partner for specific details, including eligibility and next steps.
If you decide to volunteer for the RIF, your manager will meet with you to discuss a transition plan and to determine a mutually agreed upon last day worked that will be defined as part of your severance package.
1 Employees in Japan will have a different deadline that will be defined later
This memo is a follow-up to T.J. Rodgers’s “Merger Update” memo released on February 26, 2015 (TJR-1163). It is intended to communicate additional important information regarding the voluntary RIF that T.J. offered.
As T.J. said,
“If – for any reason – you are currently planning on leaving the company, or do not plan to join Newco, let us know. We will still offer the excellent severance benefit described [in TJR-1163], and more importantly, you will help make room for another employee to join the combined company, rather than them becoming part of the RIF.”
To avoid unnecessary RIFs of your fellow employees, we need your decision soon.
Voluntary RIF Deadline: Tuesday, March 10, 2015, 5:00pm PDT1
T.J.’s memo also discussed the “extraordinarily bright future for Cypress+Spansion”, which is driving Newco’s manufacturing sites to maintain capacity. As manufacturing capacity at the following sites will not be impacted by the RIF, volunteers are not being accepted from manufacturing employees at these locations:
Austin Fab 25 Bangkok Cypress Manufacturing Ltd (CML)
Employees who resigned prior to TJR’s memo publication on February 26, 2015 at 4:53pm PST are not eligible to volunteer for a RIF package.
If you are considering volunteering for the RIF, please contact your HR Business Partner for specific details, including eligibility and next steps.
If you decide to volunteer for the RIF, your manager will meet with you to discuss a transition plan and to determine a mutually agreed upon last day worked that will be defined as part of your severance package.
1 Employees in Japan will have a different deadline that will be defined later
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