InfoAnda - Tech firms balance cost cuts and innovation

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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Tech firms balance cost cuts and innovation Fri May 22, 2009 9:53am EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Dominique Vidalon and Alexei Oreskovic PARIS/NEW YORK (Reuters) - Technology executives say they are prepared to cut more costs if the downturn proves more prolonged than expected, but finding places to get further savings won't be easy. The obvious place to look is research and development budgets, which are typically the last things to get cut at tech companies that thrive on innovation. But with no guarantees that an economic revival is on the horizon, there are signs that thinking could change. Alain Dutheil, chief executive of wireless chip maker ST-Ericsson, said it is difficult for the company to justify its "huge" R&D spending with revenue under so much pressure. "If this economic situation does not improve, we will take further measures. If we cut, it's going to be on R&D," he told the Reuters Global Technology Summit. Many companies that participated in the summit, which took place in New York, Paris and Tokyo this week, have laid off workers as they weathered the worst economic slowdown in decades. German software maker SAP's cuts were the first in its 37-year history. To what extent the recent spending cuts will set innovation back remains unclear. Executives said tech firms can help lift the economy out of recession by creating new products that give consumers and businesses a reason to buy again. Corning Inc CFO Jim Flaws pointed to new technology like flat panel TVs that are lit by LEDs instead of fluorescent tubes as one of the new innovations that will drive demand for TVs. And he pointed to a new type of glass that Corning developed for touchscreen electronic devices as evidence of the company's commitment to innovation throughout the downturn. Corning, the world's largest maker of glass for LCD panels, has cut costs in its manufacturing operations, mothballing half of its production capacity in December. Since then, however, Flaws said Corning has begun to bring some of its production lines back on-line and rehire laid off workers to meet demand for flat panels and fiber optic cables. PAY FREEZES, PARTNERSHIPS Chip firms SanDisk Corp and ARM Holdings have continued to invest in next-generation products and technology even as they cut costs in other parts of the company, executives said at the summit. ARM reduced headcount by 3 percent at the start of the year and does not anticipate any more job cuts. CEO Warren East said any further savings will come from "tight financial discipline, pay freezes, restricting all sorts of discretionary expenditures." SanDisk has also made multiple rounds of job cuts as it suffers through a severe downturn in the flash memory industry, which has contributed to billions of dollars in losses. CEO Eli Harari said SanDisk has not scaled back its efforts to develop a new form of flash memory, known as 3D rewriteable flash, which he said will be key to improving products like solid state hard drives. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Dell seeks market share amid uncertainty Reuters Global Technology Summit Who will come out on top? Technology companies are drawing attention from investors and consumers alike as everyone tries to predict the market bottom and what new inventions might drive a recovery. Full Coverage More Technology News U.S. federal judge weighs DVD copying case Gates sees tech helping U.S. out of recession Tokyo park plays high-pitch tone to teen vandals Pope on Facebook in attempt to woo young believers Dell seeks market share amid uncertainty More Technology News... Editor's Choice Slideshow A selection of our best photos from the past 24 hours. 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Facebook is the 800-pound gorilla in the social media space, with some 200 million members, a valuation of perhaps $5 billion and a base that has expanded well beyond its early roots as a private hangout for bored Ivy League students. Commentary We want to hear from you Join the Reuters Consumer Insight Panel and help us get to know you better Please take a moment to complete our survey Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Labs | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers International Editions: Africa | Arabic | Argentina | Brazil | Canada | China | France | Germany | India | Italy | Japan | Latin America | Mexico | Russia | Spain | United Kingdom | United States Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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