GSI to Reduce US Jobs
BILLERICA, Mass., April 14 -- GSI Group Inc. announced today is will cut its US work force by 10 percent during the first half of this year as a result of soft semiconductor markets and plant closings. GSI, based in Billerica, Mass., supplies precision technology and semiconductor systems to medical, semiconductor, electronics and industrial markets.
The company did not say how many jobs are or will be affected but said layoffs began in the fourth quarter of 2007. It reported it had a total of 1363 on its payroll at the end of the year
In February, GSI said it would begin consolidating its three Massachusetts manufacturing facilities in May into one facility, in light of an "anticipated weaker business outlook," and that it would build its presence in Asia. It said it recently finished a restructuring of its UK manufacturing facility and increasing production at its Suzhou, China, facility.
For more information, visit: www.gsig.com
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