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Technology Stocks : MITEL (MLT)

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To: Howard Bennett who wrote (1720)	5/9/2001 10:11:04 PM
From: Conky Lives!	Read Replies (1) of 1730

ottawabusinessjournal.com Posted Wednesday, May 9, 2001 Layoffs at Mitel Semiconductor: sources By Derek Abma, InBusiness Media Network The slowdown in the semiconductor sector is reportedly resulting in layoffs at Mitel Semiconductor. According to Ottawa Business Journal sources, about 50 employees, including some senior engineers, have received layoff notices over the past 24 hours. Will Massaad, co-founder of Intelligent Technology Solutions Inc., confirmed on Wednesday afternoon that he has seen a significant increase in the number of job applications coming from Mitel Semiconductor employees. Intelligent Technology Solutions is a local company that specializes in recruiting high-tech workers. Sources said an official announcement about the layoffs would be made by Mitel Semiconductor Thursday, or possibly later than that. Mitel officials were not returning phone calls to the OBJ Wednesday. Mitel Semiconductor separated from Mitel Corp. earlier this year to focus primarily on chip making. The other portion of Mitel was bought by co-founder Terry Matthews for $350 million, and has stuck to the business of network building.

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