News & Analysis
Fab tool vendor Brooks cuts 10% of workforce
Dylan McGrath
9/17/2012 5:35 PM EDT
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.
[ARM TechCon 2012, the largest ARM design ecosystem under one roof, is Oct. 30 - Nov. 1 in Santa Clara. Click here to check out agenda.]
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.
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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.
[ARM TechCon 2012, the largest ARM design ecosystem under one roof, is Oct. 30 - Nov. 1 in Santa Clara. Click here to check out agenda.]
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.
Related stories:
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- Sony Mobile to lay off 1,000 employees
- Rambus cutting 15% of workforce
- Sharp to slash 5,000 jobs
- Renesas forecasts flood of red ink
- Panel defines strategy for U.S. advanced manufacturing
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