SAN JOSE, Calif. -- In its third layoff in recent times, silicon wafer supplier MEMC Electronic Materials Inc. has cut about 200 more jobs, according to a regulatory filing with the U.S. Securities and Exchange Commission.
''The company has now committed to further reductions in force affecting an additional 200 employees of the company's Korean subsidiary, MEMC Korea Company,'' according to the filing. MEMC expects to see charges of approximately $6.5 million for one-time discretionary severance pay.
Earlier this month, MEMC cut about 200 manufacturing employees. Employees were cut at MEMC's manufacturing facilities in St. Peters, Mo., and Sherman, Texas.
In February, approximately 100 manufacturing employees were let go by MEMC's Japanese subsidiary, MEMC Japan Ltd., according to a filing.
MEMC it expects to report first quarter revenue of about $214 million, which would be a decrease of nearly 50 percent from $425.7 million in the fourth quarter of 2008. MEMC (St. Peters, Mo.) said the preliminary first quarter revenue expectation is consistent with company guidance that revenue could be down as much as 50 percent sequentially.