SmartFlex Systems (SFLX) - Blitzkrieg or Sitzkrieg? Message Board

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Technology Stocks : SmartFlex Systems (SFLX) - Blitzkrieg or Sitzkrieg?

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To: Steve168 who wrote (780)	4/1/1999 9:06:00 PM
From: Artslaw	Read Replies (1) of 848

Gee, is this a good thing? An April Fool's joke, perhaps? Oy vey! Smartflex Plans To Cut 220 Employees, Or 23% Of Work Force 4/1/99 Dow Jones Newswires TUSTIN, Calif. -- Smartflex Systems Inc. (SFLX) will cut 220 employees in a restructuring plan resulting in a first-quarter charge to cover the layoffs and other severance costs. The amount of the charge wasn't disclosed. In a press release Thursday, the electronics manufacturer said the reduced workforce, about 23% of the first-quarter high total, will come from its Tustin, Singapore and Monterrey, Mexico operations and Tanon Manufacturing Inc.'s Fremont, Calif. operation. Smartflex said the restructuring was due to the $15 million December acquisition of Tanon and will appropriately size operations worldwide.

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