Search Menu
Photonics Media Photonics Buyers' Guide Photonics Spectra BioPhotonics EuroPhotonics Vision Spectra Photonics Showcase Photonics ProdSpec Photonics Handbook
More News

ESI to Lay Off 45, Close Massachusetts Facility

Facebook Twitter LinkedIn Email Comments
PORTLAND, Ore., March 16, 2015 — Electro Scientific Industries Inc. (ESI) plans to close its facility in Chelmsford, Mass., and lay off about 45 workers.

The developer of laser-based manufacturing systems for the microtechnology industry said the move is part of a corporate restructuring meant to save $4.5 million annually.

The restructuring will be fully implemented in the last three months of 2015. ESI said it expects to incur about $5.5 million in severance and facility-related costs. Products currently developed and manufactured in Chelmsford will be transferred to the company’s other facilities.

“This action will enable us to further focus our efforts on growing our business while consolidating manufacturing facilities and lowering our fixed cost base,” said CEO Edward C. Grady. “I would like to express my sincere appreciation to the affected employees for their valuable contributions to ESI. While these moves are difficult, they are a necessary step in our revitalization plan, to position us for future growth and profitability.”
Mar 2015
BusinessAmericasMassachusettsOregonElectro Scientific IndustriesESIlasersindustrialmaterials processing

back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2020 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA,

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.