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SD Transplant
ParticipantHere is another local company CYMER:
from UT today:
http://www3.signonsandiego.com/stories/2009/jan/16/1b16cymer214142-layoffs-pay-cuts-ordered-cymer/?zIndex=38091San Diego’s Cymer said yesterday it will lay off 100 workers, cut salaries for remaining employees and eliminate the company’s contribution to retirement accounts in the wake of steep declines in orders for semiconductor equipment.
The Draconian cuts come as Cymer, which makes complex lasers used in chip production, said sales for the current quarter could fall as much as 35 percent.
At a meeting with employees, the company said it is temporarily cutting base pay 10 percent, suspending its maximum $5,000 annual match to worker 401(k) retirement accounts and ending merit pay raises and bonuses.
Paul Bowman, interim chief financial officer, said job cuts occurred worldwide, with about 70 workers losing their positions at Cymer’s San Diego headquarters. The company will have about 900 workers after the layoffs.
Cymer said it hopes to restore worker wages and retirement fund contributions when economic conditions improve.
The company ended the third quarter with $277 million in cash. It plans to pay off $141 million in debt next month. After that, it will have $136 million in cash and be debt-free.
Cymer said the moves were necessary because demand has fallen for its machines, which use lasers as part of the complex process of placing intricate circuit patterns on chips.
The company estimates its revenue during the first quarter could decline 30 percent to 35 percent from its fourth-quarter revenue.
ParticipantHere is another local company CYMER:
from UT today:
http://www3.signonsandiego.com/stories/2009/jan/16/1b16cymer214142-layoffs-pay-cuts-ordered-cymer/?zIndex=38091San Diego’s Cymer said yesterday it will lay off 100 workers, cut salaries for remaining employees and eliminate the company’s contribution to retirement accounts in the wake of steep declines in orders for semiconductor equipment.
The Draconian cuts come as Cymer, which makes complex lasers used in chip production, said sales for the current quarter could fall as much as 35 percent.
At a meeting with employees, the company said it is temporarily cutting base pay 10 percent, suspending its maximum $5,000 annual match to worker 401(k) retirement accounts and ending merit pay raises and bonuses.
Paul Bowman, interim chief financial officer, said job cuts occurred worldwide, with about 70 workers losing their positions at Cymer’s San Diego headquarters. The company will have about 900 workers after the layoffs.
Cymer said it hopes to restore worker wages and retirement fund contributions when economic conditions improve.
The company ended the third quarter with $277 million in cash. It plans to pay off $141 million in debt next month. After that, it will have $136 million in cash and be debt-free.
Cymer said the moves were necessary because demand has fallen for its machines, which use lasers as part of the complex process of placing intricate circuit patterns on chips.
The company estimates its revenue during the first quarter could decline 30 percent to 35 percent from its fourth-quarter revenue.
ParticipantHere is another local company CYMER:
from UT today:
http://www3.signonsandiego.com/stories/2009/jan/16/1b16cymer214142-layoffs-pay-cuts-ordered-cymer/?zIndex=38091San Diego’s Cymer said yesterday it will lay off 100 workers, cut salaries for remaining employees and eliminate the company’s contribution to retirement accounts in the wake of steep declines in orders for semiconductor equipment.
The Draconian cuts come as Cymer, which makes complex lasers used in chip production, said sales for the current quarter could fall as much as 35 percent.
At a meeting with employees, the company said it is temporarily cutting base pay 10 percent, suspending its maximum $5,000 annual match to worker 401(k) retirement accounts and ending merit pay raises and bonuses.
Paul Bowman, interim chief financial officer, said job cuts occurred worldwide, with about 70 workers losing their positions at Cymer’s San Diego headquarters. The company will have about 900 workers after the layoffs.
Cymer said it hopes to restore worker wages and retirement fund contributions when economic conditions improve.
The company ended the third quarter with $277 million in cash. It plans to pay off $141 million in debt next month. After that, it will have $136 million in cash and be debt-free.
Cymer said the moves were necessary because demand has fallen for its machines, which use lasers as part of the complex process of placing intricate circuit patterns on chips.
The company estimates its revenue during the first quarter could decline 30 percent to 35 percent from its fourth-quarter revenue.
ParticipantI was expecting less impact on Univ….but here it goes today’s list:
– Stanford Business School lays off 49
– Framingham State (MA) plans to cut six workers
– Brandeis U. Faculty donates to prevent staff layoffs
– University of Tennessee layoffs possible
– Oral Roberts University begins layoffs
– Utah: Higher Ed Officials warn of layoffs
– Minnesota State Morehead layoffs
– Florida Atlantic U. Officials anticipate more layoffs
– Layoffs hit Colorado State University online venture
– Colorado State University layoffs “likely”
– Norwich University announces layoffs
– Bowling Green University set to lay off 43 employees
– U. of Chicago Medical Center To Trim Executive Ranks
– U. of Denver staff leave under voluntary plan
ParticipantI was expecting less impact on Univ….but here it goes today’s list:
– Stanford Business School lays off 49
– Framingham State (MA) plans to cut six workers
– Brandeis U. Faculty donates to prevent staff layoffs
– University of Tennessee layoffs possible
– Oral Roberts University begins layoffs
– Utah: Higher Ed Officials warn of layoffs
– Minnesota State Morehead layoffs
– Florida Atlantic U. Officials anticipate more layoffs
– Layoffs hit Colorado State University online venture
– Colorado State University layoffs “likely”
– Norwich University announces layoffs
– Bowling Green University set to lay off 43 employees
– U. of Chicago Medical Center To Trim Executive Ranks
– U. of Denver staff leave under voluntary plan
ParticipantI was expecting less impact on Univ….but here it goes today’s list:
– Stanford Business School lays off 49
– Framingham State (MA) plans to cut six workers
– Brandeis U. Faculty donates to prevent staff layoffs
– University of Tennessee layoffs possible
– Oral Roberts University begins layoffs
– Utah: Higher Ed Officials warn of layoffs
– Minnesota State Morehead layoffs
– Florida Atlantic U. Officials anticipate more layoffs
– Layoffs hit Colorado State University online venture
– Colorado State University layoffs “likely”
– Norwich University announces layoffs
– Bowling Green University set to lay off 43 employees
– U. of Chicago Medical Center To Trim Executive Ranks
– U. of Denver staff leave under voluntary plan
ParticipantI was expecting less impact on Univ….but here it goes today’s list:
– Stanford Business School lays off 49
– Framingham State (MA) plans to cut six workers
– Brandeis U. Faculty donates to prevent staff layoffs
– University of Tennessee layoffs possible
– Oral Roberts University begins layoffs
– Utah: Higher Ed Officials warn of layoffs
– Minnesota State Morehead layoffs
– Florida Atlantic U. Officials anticipate more layoffs
– Layoffs hit Colorado State University online venture
– Colorado State University layoffs “likely”
– Norwich University announces layoffs
– Bowling Green University set to lay off 43 employees
– U. of Chicago Medical Center To Trim Executive Ranks
– U. of Denver staff leave under voluntary plan
ParticipantI was expecting less impact on Univ….but here it goes today’s list:
– Stanford Business School lays off 49
– Framingham State (MA) plans to cut six workers
– Brandeis U. Faculty donates to prevent staff layoffs
– University of Tennessee layoffs possible
– Oral Roberts University begins layoffs
– Utah: Higher Ed Officials warn of layoffs
– Minnesota State Morehead layoffs
– Florida Atlantic U. Officials anticipate more layoffs
– Layoffs hit Colorado State University online venture
– Colorado State University layoffs “likely”
– Norwich University announces layoffs
– Bowling Green University set to lay off 43 employees
– U. of Chicago Medical Center To Trim Executive Ranks
– U. of Denver staff leave under voluntary plan
ParticipantNORTEL just filed for bankrupcy…….I expect some job losses there during the restructure.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8E1VQ1yRq8k&refer=home
ParticipantNORTEL just filed for bankrupcy…….I expect some job losses there during the restructure.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8E1VQ1yRq8k&refer=home
ParticipantNORTEL just filed for bankrupcy…….I expect some job losses there during the restructure.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8E1VQ1yRq8k&refer=home
ParticipantNORTEL just filed for bankrupcy…….I expect some job losses there during the restructure.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8E1VQ1yRq8k&refer=home
ParticipantNORTEL just filed for bankrupcy…….I expect some job losses there during the restructure.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a8E1VQ1yRq8k&refer=home
ParticipantSEATTLE – Boeing Co., the world’s second-largest airplane maker, is planning to cut about 3 percent of its work force as jetliner demand falls, hurt by the global economic downturn.
The Chicago-based company on Friday said it expects to cut about 4,500 positions from its passenger jet business, which has factories in the Seattle area. Many of the cuts will be in areas not directly associated with aircraft production.
The news comes a day after Boeing reported a 15 percent decline in passenger jet deliveries for 2008, when it faced an eight-week strike by union workers and shrinking airline demand. The lower deliveries ensured Boeing’s archrival, Europe’s Airbus, retained its rank as the world’s top plane maker.
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