AXT Cuts Jobs at Fremont Plant

FREMONT, Calif., June 21 -- AXT Inc. announced today it is reducing the workforce at its Fremont, Calif., manufacturing facility by approximately 45 positions, or about 35 percent, over the next 60 days, as part of an ongoing effort to consolidate manufacturing at its production facility in China.

AXT said it will record a restructuring charge of approximately $1.3 million in the second quarter related to the reduction in force and to lease costs associated with facilities that are no longer required to support production.

AXT makes high-performance compound semiconductor substrates for the fiber optics and communications industries.

For more information, visit: www.axt.com