Axcelis Announces Workforce Reduction
BEVERLY, Mass.,
The company had previously implemented a series of cost saving activities including furloughs, plant shutdowns and layoffs. Given the severity of this downturn, these additional actions were required to better align operating costs with near term revenue expectations. The reductions are estimated to yield savings of
Commenting on the company's announcement, Chairman and CEO
Safe Harbor Statement
This document contains forward-looking statements under the SEC safe harbor provisions. These statements, which include our estimations of the financial benefits of the restructuring are based on management's current expectations and should be viewed with caution. They are subject to various risks and uncertainties, many of which are outside the control of the Company, including the amount and timing of expenses associated with the restructuring, and the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with and purchases by major customers, competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and global economic, political and financial conditions. These risks and other risk factors relating to
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