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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (25603)	10/30/2001 12:38:10 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25960

Cymer reduces headcount by 11% or 100 employees Semiconductor Business News (10/30/01 12:16 p.m. EST) SAN DIEGO -- Citing the current and sharp downturn in the IC market, Cymer Inc. here today announced that it has reduced its headcount by 11%, or about 100 jobs. Effective today, the work force reduction will trim the company's headcount from about 900 employees to 800 employees worldwide, according to Cymer. The San Diego-based company is a supplier of lasers for lithography tools and other products. Of the employees affected by the reduction, 80 are in San Diego and are comprised of temporary, contract, and full-time employees. The reduction in force affects every department within the corporation. "The current downturn is the most severe in the history of thesemiconductor industry and therefore presents significant challenges," said Pascal Didier, Cymer's president and chief operating officer. "Along with the reduction in force, we have implemented a number of other cost-saving measures worldwide, including a mandatory shutdown during the week of Thanksgiving, a two week shutdown over the Christmas and New Year's holidays, and an across the board, graduated salary reduction while further reducing discretionary spending," he said.