Newport plans 225-275 layoffs as part of reorganization

Newport Corp. announced Aug. 20 a cost reduction and reorganization plan, including layoffs of 225 to 275 employees, which is expected to save about $12-14 million per year. These cuts are expected to help Newport achieve profitability during the present period of weak demand, which it adds has been caused by a protracted downturn in the fiber-optic communications market and ...

09/01/2002


Newport Corp. announced Aug. 20 a cost reduction and reorganization plan, including layoffs of 225 to 275 employees, which is expected to save about $12-14 million per year. These cuts are expected to help Newport achieve profitability during the present period of weak demand, which it adds has been caused by a protracted downturn in the fiber-optic communications market and uncertainty in the pace of recovery in the semiconductor equipment market. Effective immediately, Newport's Fiber-Optics and Photonics Division (FPD) is being reorganized into the Advanced Packaging and Automation Systems (APAS) division, which will result in 105 to 145 layoffs. The firm is also divesting its Plymouth, Minnesota-based facility, which will result in another 60 layoffs. Overall streamlining will cut another 60-70 jobs.





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Sensor-to-cloud interoperability; PID and digital control efficiency; Alarm management system design; Automotive industry advances
Make Big Data and Industrial Internet of Things work for you, 2017 Engineers' Choice Finalists, Avoid control design pitfalls, Managing IIoT processes
Engineering Leaders Under 40; System integration improving packaging operation; Process sensing; PID velocity; Cybersecurity and functional safety
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Flexible offshore fire protection; Big Data's impact on operations; Bridging the skills gap; Identifying security risks
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
click me