cutting back production like it's going out of style, it's no shock that rumors were a-flowin' that LCD maker Chi Mei Optoelectronic would soon be following suit. After suffering a $125 million loss in Q3 and facing a grim Q4, the outfit has proudly proclaimed that it has zero intentions of shutting down factories or otherwise lowering production in order to counter the slump. 'Course, CMO did trim output by around 20% last quarter, but in an official filing with the Taiwan Stock Exchange, it clearly stated that it currently had "no plans to close factories as reported by the media." So, what exactly is it doing? Encouraging employees to take unpaid vacations. Interesting.
[Image courtesy of UberGizmo]