Micronic Cuts Staff, Posts Loss
written by Mark LaPedus, courtesy of EE Times SAN JOSE, Calif. -- Amid a loss, Micronic Laser Systems AB (Taby, Sweden) will implement a layoff to cut costs. ''We are accelerating our adaptation to the lower sales volume and cut back the number of consultants and contract personnel by around 40 people,'' said Sven Lofquist, president and CEO of Micronic, in a statement. ''So far in 2008 we have decreased our headcount by 26 people and are in the process of carrying out an additional staff reduction of similar size,'' he added. The laser pattern-generator equipment firm said sales for the three-month period reached SEK 109.6 million ($14.8 million), compared to SEK 177.9 million ($24.1 million) in the like period a year ago. The loss for the three-month period was SEK 25.2 million ($3.4 million), compared to a loss of SEK 24.1 million ($3.3 million) a year ago. The outlook for 2008 has been revised downwards. The company's earlier assessment was that sales for 2008 would exceed the level in 2007. In light of the slowdown in the display industry, its sales for 2008 will be on par with 2007. |
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