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In its preliminary fourth quarter 2008 result and first quarter 2009 projections, Cymer, Inc. has announced that is has taken on board measures to cut costs at the company. Included in these measures is the planned cut of 10% of the company’s staff, or approximately 100 people. The company aims to decrease its costs by $50 to $55 million annually through implementation of these measures.

Further steps being taken by the company include a temporary 10% reduction in employee base pay and suspension of the 401(k) matching program and of annual merit increases and bonus payments. Restructuring charges of an estimated $4.5 million will result from the job losses, which cost will be recorded in the company’s first quarter 2009 financial results.