Samsung Austin Semiconductor will cut 550 jobs from its Austin manufacturing operations later this year. The company's Fab 1 plant will be shut down on or about October 18, and most of the eliminated jobs are centered there. The Fab 1 facility is being renovated to become part of the newer, larger, more automated Fab 2 factory next door. Once renovation is complete, Samsung said it plans to hire 150-200 workers for the new factory. [Statesman Business Blog] more ›