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GSI to Reduce US Jobs

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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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Glossary
nano
An SI prefix meaning one billionth (10-9). Nano can also be used to indicate the study of atoms, molecules and other structures and particles on the nanometer scale. Nano-optics (also referred to as nanophotonics), for example, is the study of how light and light-matter interactions behave on the nanometer scale. See nanophotonics.
photonics
The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
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