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Tower Cuts 170 Jobs
MIGDAL HAEMEK, Israel, May 29, 2008 -- Chip maker Tower Semiconductor Ltd. has cut 170 jobs -- about 11 percent of its work force -- as part of plan to reduce costs by $40 million a year. The positions were eliminated primarily in management and support and will save $14 million a year, the company said. Tower has about 1500 employees, according to its Web site. The cuts come little more than a week after Israel-based Tower announced it will acquire foundry Jazz Technologies of Newport Beach, Calif., in a stock-for-stock...
Precision Optics to Cut Jobs
GARDNER, Mass., Nov. 27, 2007 -- Precision Optics Corp. Inc. announced it will reduce its work force as a result of operating losses it expects to continue through 2008. Last week the Gardner-based manufacturer of advanced optical instruments and medical instruments for...
CTS to Cut 103 Jobs
ELKHART, Ind., Nov. 14, 2007 -- CTS Corp. announced this week it intends eliminate 103 jobs by the end of the year as part of a plan to realign some of its manufacturing operations. CTS is based in Elkhart and manufactures electronic components and sensors used primarily in...
GE to Close Lighting Plants
LOUISVILLE, Ky., Oct. 11, 2007 -- GE Consumer & Industrial announced it intends to restructure its lighting business, affecting approximately 1400 employees at plants in the US, Mexico and Brazil, in a bid to become more competitive globally. Under the plan, GE Consumer...
Kodak Loses $282M, Will Cut 2000 More Jobs
ROCHESTER, N.Y., Aug. 1, 2006 -- In the wake of a wider second-quarter loss of $282 million -- its seventh quarterly loss in a row as it continues a rough transition from film to digital photography -- Eastman Kodak Co. said today it will cut an additional 2000 jobs and outsource...
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