According to reports, GT Advanced said on Friday (10th) that it will lay off 890 people and shut down the Arizona factory that was originally expected to produce sapphire screens for Apple. GT Advanced also hinted that it might file a lawsuit against Apple during the bankruptcy reorganization.
GT Advanced said on Friday: "Only by closing these operations can we stop the ever-increasing losses and refocus our resources on the core business of selling sapphire furnaces and other products."
GT Advanced said that the businesses that are going to shut down burned $1 million a day. "GT believes that the company will make a lot of legal claims for the latter because of its business relationship with Apple." GT Advanced said in a document submitted to the Manchester Bankruptcy Court in New Hampshire.
GT Advanced said the company will not pursue unspecified claims at the beginning of the bankruptcy restructuring, but these claims will allow GT Advanced to terminate several agreements with Apple. GT Advanced believes these agreements are cumbersome and worthless.
Apple has responded before, still committed to retaining jobs in Arizona and negotiating next steps with state and local officials.
GT Advanced said on Friday: "Only by closing these operations can we stop the ever-increasing losses and refocus our resources on the core business of selling sapphire furnaces and other products."
GT Advanced said that the businesses that are going to shut down burned $1 million a day. "GT believes that the company will make a lot of legal claims for the latter because of its business relationship with Apple." GT Advanced said in a document submitted to the Manchester Bankruptcy Court in New Hampshire.
GT Advanced said the company will not pursue unspecified claims at the beginning of the bankruptcy restructuring, but these claims will allow GT Advanced to terminate several agreements with Apple. GT Advanced believes these agreements are cumbersome and worthless.
Apple has responded before, still committed to retaining jobs in Arizona and negotiating next steps with state and local officials.
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