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Pastimes : Layoff Totals for US Companies
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From: peppe511/15/2009 8:43:39 AM
   of 8051
 
200...FormFactor to cut work force by 22 percent
18 hours ago
(AP:LIVERMORE, Calif.) Chip testing equipment maker FormFactor Inc. said Wednesday it will cut its work force by 22 percent, affecting about 200 employees, and take $8 million in charges related to a reorganization and cost-cutting plan.

The job cuts will take effect immediately, a spokesman said.

In a statement, Chief Executive Mario Ruscev cited a "rapid slowdown" in customer spending, "which has driven significant volatility in our forecasts."

FormFactor last month cut its fourth-quarter profit and sales outlook, citing weakening demand for its memory chip. The company said its earnings per share, operating expenses and gross margins also will fall below earlier guidance, but did not provide specific estimates.
news.ino.com
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