Cymer Braces for Downturn
Cymer Inc. has announced global work-force cuts of 12 percent as it restructures to offset the slump in the semiconductor industry. Most of the layoffs will occur in the company headquarters in San Diego where approximately 98 positions will be eliminated. Senior executive salaries also are being slashed by 10 percent as part of the plan to reduce costs.
These cuts come on the heels of a shareholder class action suit that alleges the company misled investors by misrepresenting its business position and artificially inflating the stock to a high of $49.25 on Aug. 25, 1997. The class action covers purchasers of Cymer stock from April 24 to Sept. 26, 1997.
LATEST NEWS
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024
- One-Step Hologram Generation Speeds 3D Display Creation
Apr 24, 2024
- Innovation Award Winners for Laser Technology Honored in Aachen
Apr 23, 2024
- Intech 2024: AI Arrives on the Shop Floor
Apr 22, 2024