Reuters is reporting that Samsung will spend about $4 billion at its chip plant in Austin, Texas in order to renovate an existing chip producing line as well as boosting production of system chips, which is widely used for both smartphones and tablets. The South-Korean giant employs nearly 2,500 employees in Central Texas, which includes a few hundred workers at its engineering design center in Northwest Austin.
The company spokeswoman Catherine Morse said there will be no layoffs. “We are not laying off workers. We are keeping all jobs intact,” Morse said. “We will be doing a massive training of workers.” We are excited, Morse added. “This shows the confidence the company has in Austin to manufacture these extremely important products here.”