WESTWOOD, Mass.--Hit hard by the current IC downturn, LTX Corp. here has reduced its workforce by 94 employees and will take a $2 million charge associated with the action, according to a report from Dow Jones.
Citing a company filing with the Securities Exchange Commission (SEC), the report said the Westwood-based supplier of automatic test equipment (ATE) cut 83 full-time workers and 11 temporary workers. The company has 693 full-time workers and 45 temporary workers, according to the filing.
The move is expected to cut operating costs by about $5 million annually, the report said.
LTX is not the only ATE vendor in the cost-cutting mode. This week, Japan's Advantest Corp. cut 600 jobs and reported weak results (see Oct. 30 story ).