Mattson To Cut 14% Of Workforce
written by Dylan McGrath, courtesy of EE Times
SAN FRANCISO— Semiconductor fab tool provider Mattson Technology Inc. will eliminate approximately 80 jobs as part of a cost alignment plan designed to reduce losses, the company said Wednesday (Sept. 10).
The layoffs are apparently in addition to those announced in June, when Mattson said it would eliminate approximately 25 positions, or about 5 percent of the company's global workforce.
"The wafer fabrication equipment market is in a protracted downturn due to oversupply conditions in the memory segment; a situation that has been exacerbated by macro-economic conditions," said David Dutton, Mattson president and CEO, in a statement.
Dutton said Mattson would continue to invest in dielectric etch and millisecond anneal in an effort to grow market share beyond Mattson's core segments, strip and rapid thermal processing (RTP).
The headcount reduction, which represents about 14 percent of the company's employees is expected to be completed by the end of the second quarter of 2009, Mattson said. The company said it expects to save $6 million per year through the elimination of jobs. Mattson said it would record restructuring-related charges in the range of $4.5 million to $5.5 million.
There have been no comments made on this article. Why not be the first and add your own comment using the form below.