GT Advanced Technologies Inc (NASDAQ:GTAT) wants to get back to its roots, selling Sapphire furnaces, and get out of the business of producing Sapphire products for Apple Inc. (NASDAQ:AAPL).
GTAT cutting 890 jobs in Arizona
In the wake of Apple Inc. (NASDAQ:AAPL) announcing that it was perusing a relationship with a competing supplier, Gorilla Glass, to furnish protective screens for the iPhone 6, Reuters is reporting today that GT Advanced Technologies Inc (NASDAQ:GTAT) will cut 890 jobs in Arizona and walk away from its investment which is losing $1 million per day. The company is shuttering Sapphire production operations in Mesa, Arizona and Salem, Massachusetts as quickly as...
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