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Electronics Industry Layoffs

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BUSINESS
June 29, 1993 | DEAN TAKAHASHI, TIMES STAFF WRITER
Hurt by a severe recession in the printed circuit-board industry, Helix Circuits Inc. said Monday that it will close its manufacturing plant in Irvine and throw 140 employees out of work. The plant, which assembles electronic circuit boards for telecommunications equipment and computers, will shut down within 30 days, said Vahan Kololian, president of parent company Helix Circuits, which is based in Toronto. The company also has a manufacturing plant in Ontario, Canada.
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BUSINESS
October 11, 2001 | DAVID STREITFELD, TIMES STAFF WRITER
Mobile phone giant Motorola Inc. said Wednesday that it will slash an additional 7,000 jobs, raising its total cuts this year to 39,000, or a quarter of its work force. The mobile phone and chip maker also said it will record a loss for the fourth quarter of 4 or 5 cents a share. Analysts had been expecting the Schaumburg, Ill.-based company to post a profit of 1 cent. That means that 2001 will be the first unprofitable year for Motorola in nearly half a century.
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BUSINESS
August 16, 2001 | Associated Press
Corning Inc., stung by a slowdown in the telecommunications industry, is cutting about 900 jobs in its optical-fiber cable division on top of the 5,900 jobs it cut in various divisions earlier this year. The company said 450 jobs will be eliminated immediately at Corning Cable Systems plants in North Carolina, Texas and Missouri as well as in Mexico, Puerto Rico and the Dominican Republic.
BUSINESS
August 25, 2001 | From Associated Press
Hughes Electronics Corp., which runs the satellite television service DirecTV, will slash as much as 10% of its U.S. work force as it struggles to regain profitability in the global economic downturn. The El Segundo-based company, which announced the layoffs late Friday, employs about 7,900 people in the United States. It is a subsidiary of General Motors Corp. Spokesman Richard Dore said most of the layoffs will occur at the DirecTV operation.
BUSINESS
July 13, 2000 | Bloomberg News
Sync Research Inc., Irvine maker of computer-networking devices, said Wednesday it will close a plant in Norton, Mass., as it moves to cut costs. The company said it will take a charge of $2.5 million to $3 million in the second quarter to cover the closure and employee-related costs as well as asset write-offs. The company didn't say how many employees would be fired, and Sync officials couldn't be reached for comment. The closure is intended to reduce Sync's operating costs.
BUSINESS
May 9, 2001 | Bloomberg News
MTI Technology Corp. said it has eliminated 86 jobs, or 13% of its work force, as customers bought less equipment for storing and retrieving computer information. The Anaheim-based company said a slowing U.S. economy will contribute to a pretax loss of $10 million to $12 million, or 31 to 37 cents a share, for its fiscal fourth quarter ended April 7. It had a loss from operations of 6 cents a share in the year-ago quarter. MTI said it expects quarterly revenue of $33 million to $35 million.
BUSINESS
July 13, 2001 | DAVE CARPENTER, ASSOCIATED PRESS
Motorola Inc.'s push to cut costs and dig out of a deep slump claimed 4,000 more jobs Thursday while also providing investors with new hope that its ailing cellular phone business may be edging toward recovery. The telecommunications giant's stock leaped 15% to a five-month high despite its warning that it is headed for a third straight money-losing quarter on top of the $232-million operating loss it reported Wednesday.
BUSINESS
August 26, 1992 | From Times Staff and Wire Reports
JVC to Cut Work Force by a Fifth: Victor Co. of Japan will reduce its global work force by more than 21% over the next year in response to tumbling sales that prompted the company to project a major financial loss in the year to March, 1993. JVC, a major producer of videocassette recorders, will shed 3,000 workers in Japan, the United Kingdom and Germany, a spokesman said.
BUSINESS
February 10, 1992 | From Times Staff and Wire Reports
Digital Plans Broad Reorganization, More Layoffs: Digital Equipment Corp. will reorganize most of its divisions as the struggling computer company seeks ways to cut costs, a Digital spokeswoman said. The plan includes additional layoffs. "The focus of the long-term strategy is streamlining the company and better aligning our goals with those of the customers," DEC spokeswoman Nikki Richardson said. She said virtually every section of the company will be consolidated.
BUSINESS
August 16, 2001 | Associated Press
Corning Inc., stung by a slowdown in the telecommunications industry, is cutting about 900 jobs in its optical-fiber cable division on top of the 5,900 jobs it cut in various divisions earlier this year. The company said 450 jobs will be eliminated immediately at Corning Cable Systems plants in North Carolina, Texas and Missouri as well as in Mexico, Puerto Rico and the Dominican Republic.
BUSINESS
July 25, 2001 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
Ailing communications equipment maker Lucent Technologies Inc. on Tuesday posted a stunning $3.25-billion third-quarter loss and said it expects to cut up to 20,000 more jobs from its payroll. The Murray Hill, N.J., company, pressing for its operations to become profitable next year, also said it will eliminate its quarterly dividend, saving $272 million a year, and postpone by up to six months the planned spinoff of its semiconductor and optical components division.
BUSINESS
July 13, 2001 | DAVE CARPENTER, ASSOCIATED PRESS
Motorola Inc.'s push to cut costs and dig out of a deep slump claimed 4,000 more jobs Thursday while also providing investors with new hope that its ailing cellular phone business may be edging toward recovery. The telecommunications giant's stock leaped 15% to a five-month high despite its warning that it is headed for a third straight money-losing quarter on top of the $232-million operating loss it reported Wednesday.
BUSINESS
June 2, 2001 | Reuters
French telecom equipment giant Alcatel, fresh off the collapse of merger talks with Lucent Technologies Inc., said it will cut 5.6% of its U.S. work force, or 905 jobs, and close three U.S. facilities because of tough business conditions in its largest single market. The company plans to close laboratories in Milpitas, Calif., and Andover, Mass., that develop products for phone company networks, cutting 300 jobs and 125 jobs, respectively. A plant in Portland, Ore.
BUSINESS
May 23, 2001 | Dow Jones
MTI Technology Corp., an Anaheim developer of data-storage products, said Tuesday that it dismissed 86 employees, or 13% of its work force, to reduce overhead as it posted a fiscal fourth-quarter net loss of $20.6 million. The company said the layoffs resulted in a one-time restructuring charge of about $600,000 for severance and related expenses. The loss, amounting to 64 cents a share, contrasts with earnings of $14.2 million, or 41 cents a share, for last year's final three months.
BUSINESS
May 22, 2001 | Bloomberg News
Applied Signal Technology Inc. slashed its revenue forecast and said it eliminated 130 jobs, or 25% of its work force, to cut costs. The maker of equipment used to listen in on communications signals said its revenue for fiscal 2001 could be 25% to 35% lower than the year-earlier period because customers have delayed awarding some contracts it expected to receive.
BUSINESS
May 16, 2001 | Reuters
Semiconductor firm Cirrus Logic Inc. said it will lay off 120 employees, or about 9% of its work force, as part of its shift to focus solely on consumer-entertainment electronics. As a result of the layoffs, Austin, Texas-based Cirrus expects to save $10 million to $12 million annually, aided further by cuts in expenses. Cirrus also will take a charge of $1.5 million to $2 million related to the job cuts. Cirrus said the moves will affect the quarters ending in June and September.
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