The Traderszone Network

Published in TZ Latest News 10 October, 2014 by The TZ Newswire Staff

GT to cut jobs, wind down sapphire plant; takes aim at Apple

“GT believes that it has many claims against Apple arising out of its business relationship with Apple,” the company said in a filing with the U.S. The company said it could not pursue the unspecified claims at the outset of its bankruptcy, but that the claims would allow GT Advanced to terminate several Apple agreements that it said were burdensome and of no value. Apple responded by pointing to its earlier statement that it remains committed to preserving jobs in Arizona and was consulting with state and local officials on its next steps.

read more