Plasma-Therm to cut 15 pct of staff, take charge
ST. PETERSBURG, Fla., Nov 17 (Reuters) - Plasma-Therm Inc. (Nasdaq:PTIS - news), a maker of plasma process equipment, said on Tuesday it was cutting 25-30 jobs, or about 15 percent of its work force, and would take a fourth-quarter charge of $4.5 million.
The job cuts, combined with inventory reduction, are part of a new business plan the company has adopted to streamline its operations.
The improvement plan and inventory reduction each account for $2 million of the charge, with costs covering the job cuts amounting to less than $500,000, it said. |
