Layoff Totals for US Companies Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Layoff Totals for US Companies

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: peppe51	1/13/2009 9:35:17 AM
	of 8051

1380....Hutchinson Technology Inc. will lay off 1,380 workers, or about 30 percent of its workforce, according to a filing with the Securities and Exchange Commission. About 1,000 of the affected jobs are in Minnesota. That's an increase from the cuts that Hutchinson Technology (Nasdaq: HTCH) previously had announced. The Hutchinson, Minn.-based company said last month that it expected to cut 20 to 25 percent of its workforce due to decreased demand for the disk-drive parts it manufactures and economic uncertainty. "We are restructuring our business in order to reduce our expected loss in fiscal year 2009, preserve cash and position ourselves for improved financial results when suspension assembly demand improves," Hutchinson Technology President and CEO Wayne Fortun said when the job cuts were first announced. bizjournals.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next