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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2688)	8/28/2002 1:45:42 PM
From: Proud_Infidel	Respond to of 25522

TriQuint 7% jobs cut hits Oregon and Texas sites Semiconductor Business News (08/28/02 11:36 a.m. EST) HILLSBORO, Oregon -- TriQuint Semiconductor Inc. has said it has reduced its workforce by 7% worldwide. The move affected about 15% of the 465 employees in Hillsboro, Oregon, where the company recently upgraded from 4-inch to 6-inch wafers, and about 10% of the 425 employees in Richardson, Texas, where the company recently consolidated its Texas manufacturing facilities, the company said. TriQuint, which has approximately 1600 employees worldwide, expects to take a charge of approximately $0.01 per diluted share for severance related benefits for these workers in the third quarter of 2002. "This is a difficult but necessary action impacting a loyal and hard working team of employees. However, with the continued impact of slow telecommunications spending, we are adjusting our workforce at these locations to better match capacity with demand," said Ralph Quinsey, president and chief executive officer, in a statement. "Our SAW filter business at Sawtek, located in Orlando, Florida, and Costa Rica, continues at record production and no reductions in force are planned for these locations."