Brooks Automation laying off 10% of workforce

September 19, 2012 - Brooks Automation, Chelmsford, MA (Nasdaq: BRKS), says it is laying off about 150 employees, or roughly 10% of its global workforce, citing a need to reduce operating costs and improve profitability during the near-term macroeconomic environment.

Nineteen of the affected workers are part of a separate downsizing of Brooks’ life sciences operation in Oberdiessbach, Switzerland. Most of the attrition will be completed before the company’s fiscal fourth quarter (ending in September), the firm says in an SEC filing.

Together the two restructurings are expected to result in $2.4M-$2.8M in cash charges, most of that recognized in fiscal 4Q12 and almost all of that (90%) tied to the severance and RIF. Combined the actions should reduce annual operating expenses by about $11M annually (not including any restructuring charges).

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

LIVE NEWS FEED

NEW PRODUCTS

Thin wafer processing temporary bonding adhesive film for 3D wafer integration
03/24/2015 AI Technology, Inc (AIT) is the first known provider of a film format high temperature temporary bonding adhesive for thi...
Dramatic results achieved in cleaving glass using ultra-short pulsed lasers
03/11/2015ROFIN-SINAR, Inc. introduces the SmartCleave FI laser process and the MPS glass handling system for high speed and precise cl...
MKS introduces the Cirrus 3-XD Atmospheric gas analysis system
03/10/2015MKS Instruments, Inc., a global provider of technologies that enable advanced processes and improve productivity, has introduced the Cirru...