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Mattson reduces workforce by another 20%
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Mattson Technology is to make further cost reductions with moves to greater outsourcing and a workforce reduction of approximately 20%. The job losses will occur this quarter, the company said. The company had previously announced 80 job losses, equivalent to a 14% reduction in its workforce in September, 2008 due to the downturn in capital equipment spending.
David Dutton, President and Chief Executive Officer said in a statement regarding the latest round of cuts that; "the recent tightening of the credit market has resulted in an unprecedented reduction in semiconductor capital equipment order flow.”
Mattson expects charges in the range of US$3.0 million to US$4.0 million and guided a new break-even level in a revenue range of US$42 million to US$47 million.