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CyberOptics Trims Worldwide Workforce

Photonics.com
Jun 2002
MINNEAPOLIS, June 25 -- CyberOptics Corp. plans approximate 20% reduction of its worldwide workforce due to persistently sluggish conditions in the electronics assembly and semiconductor capital equipment markets.

Annualized savings from this workforce reduction are expected to total approximately $3.5 million. As a result, this measure will significantly reduce CyberOptics' breakeven cost structure and accelerate the company's return to profitability.

Steven M. Quist, chief executive officer, commented: "Although business conditions have improved moderately, this difficult action, which has affected many excellent employees, reflects the delayed recovery of our markets. R&D, which remained relatively unaffected during the past year, has been included in this measure, since development of a range of new and upgraded sensor and system products has largely been completed. As a result, CyberOptics is well positioned for the next round of industry growth, and we do not expect our performance to be affected by reduced R&D expenditures. Development is continuing on a number of new products of strategic importance."


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