SAN FRANCISCO—Brooks Automation Inc., a provider of automation tools used in semiconductor manufacturing and other industries, said Monday (Sept. 17) it expects to cut about 150 jobs in an effort to reduce operating expenses.
In a regulatory filing made with the U.S. Securities and Exchange Commission, Brooks (Chelmsford, Mass.) said the jobs cuts are being made for a combination of reasons. One is a plan to improve the company's profitability in a weak macroeconomic environment and the other is previously announced decision to relocate and refocus the company's life sciences operation based in Oberdiessbach, Switzerland.
Of the 150 jobs being cut—which equates to about 10 percent of the company's total workforce—66 are contingent employees and 19 are part of the restructuring in Switzerland, Brooks said. The company said it expects to complete the layoff prior to the end of this month.
Brooks said it expects the layoffs to reduce the company's annual operating expenses by about $11 million. The company said it expects to incur charges of $2.4 million to $2.8 million, mostly for severance pay.
January 2016 Cartoon Caption ContestBob's punishment for missing his deadline was to be tied to his chair tantalizingly close to a disconnected cable, with one hand superglued to his desk and another to his chin, while the pages from his wall calendar were slowly torn away.122 comments