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Mattson to cut workforce by 5%
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Mattson Technology, Inc. has announced a 5% reduction in its workforce. Citing the recent downturn in the semiconductor equipment sector as the impetus behind the cuts, the 5% reduction will amount to approximately 25 positions being cut “in selected organizations,” according to the company. It is expected that the reduction will be complete by the end of the next fiscal quarter.
"The restructuring of our global workforce will have the effect of reducing our cost structure in selected areas, while allowing the Company to continue critical investments in our new products and strategic initiatives," said David Dutton, President and CEO. "Memory spending is highly cyclical and has been exacerbated by the overall weak global economy. We believe the restructuring will help to optimize our organization and position Mattson for expanded growth."
By Síle Mc Mahon