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To: Proud_Infidel who wrote (983)	2/24/2005 8:31:37 AM
From: Proud_Infidel	Read Replies (1) \| Respond to of 43397

Canon to cut staff in Europe amid order shortfalls By Mark LaPedus Silicon Strategies 02/24/2005, 2:01 AM ET SAN JOSE, Calif. — Japanese lithography-tool vendor Canon Inc. has quietly reduced its workforce in Europe, but the company denied reports that it will shut down its European headquarters in Holland. A spokesman for Canon (Tokyo) in Japan confirmed that its chip-equipment unit had staff reductions in Europe, but he did not elaborate on the exact number of job cuts. "They had a cutback in staff," the spokesman said. "It's a minor adjustment." The spokesman denied that Canon will shutter its European head office, based in Amsterdam. "There is no truth to that," he added. Reports surfaced that the job cuts mainly took place in Holland amid a lull and order shortfall in the company's lithography-tool business. It also represents the latest cutback within Canon's chip-equipment unit. Last year, Canon's chip-equipment unit reportedly downsized and shook up its U.S. operations. At the time, Ray Morgan, strategic marketing manager for Canon, resigned from the lithography-tool vendor and joined Synopsys Inc., a supplier of electronic design automation (EDA) software (see Sept. 14, 2004 story). Despite missing its scanner shipment projections, Canon's chip-equipment unit last month posted an operating profit of 3.4 billion yen ($33.1 million) in the fourth quarter of 2004, compared to a loss of 6.8 billion yen ($65.7 million) in the like period a year ago. Canon — the world's third largest lithography-tool vendor, behind ASML Holding NV and Nikon Corp. — said its semiconductor equipment unit posted sales of 100.7 billion yen ($968.2 million) in the fourth quarter, up 0.7 percent from the like period a year ago. The company's chip-equipment unit posted an operating profit of 10.2 billion yen ($92 million) in the third quarter of 2004. It posted sales of 93.3 billion yen ($841 million) in the period. Canon shipped a total of 35 scanners in Q4, including 31 for IC applications and 4 steppers geared for LCDs. However, the company missed its forecast by a mile, as it was projected to ship 62 scanners in Q4, including 39 for ICs and 23 for LCDs (see Jan. 28 story).