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Newport to Cut Costs, Jobs

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IRVINE, Calif., August 23 -- Newport Corp. on Tuesday unveiled cost-cutting plans that include reorganizing divisions and reducing staff as it faces the downturn in the fiber optics communications market. The company said 275 jobs will be eliminated by the end of this year, with 60 to 70 additional cuts also expected. Newport will close its Plymouth, Minn., facility, which manufactures high-precision motion stages for the semiconductor equipment, computer peripheral, fiber optic communications and life and health sciences markets, by Dec. 31. Most of the job reductions will result from...Read full article

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    Published: August 2002
    CommunicationsindustrialNews & Features

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