DANVERS, Mass--Silicon-on-insulator wafer supplier Ibis Technology Corp. today announced it was laying off 14% of its workers, cutting executive salaries, and reducing overall spending in response to the chip industry's downturn.
"The headcount reduction, which affected both temporary and regular full-time positions, is primarily the result of temporarily suspending the weekend night shift at Ibis' Danvers facility," said Martin J. Reid, president and chief executive officer of Ibis.
Reid said the company continues investments in key areas, such as the introduction of a new implanter for the production of 200-mm and 300-mm SOI wafers based on separation by implantation of oxygen (SIMOX) technology. Ibis is also rolling out another line of SOI substrates, called Advantox MLD, which is based on a technology licensed from IBM Corp. (see Dec. 28 story).
"Interest in SIMOX-SOI remains high, as virtually all leading chip makers are moving forward with their advanced technology programs in spite of the industry slowdown," he said. "We have begun shipping Advantox MLD wafers in response to orders from several customers, and our cost-reduction initiatives will help assure that we are positioned to aggressively respond to future growth opportunities.
"At this point, we expect the growing adoption of our SIMOX-SOI technology to coincide with the predicted semiconductor industry recovery at the end of this year or early in 2002," he added.
Ibis slashed its guidance for second-quarter revenues last month after a major customer cut its forecast for SOI wafers. Ibis said it was expecting a 50-to-60% sequential drop in revenues in the current quarter (see April 12 story).