May 4, 2001 – Fremont, CA – Mattson Technology will implement a global cost reduction program, targeting a 20% overall expense reduction for fiscal 2001.
Included in the cost-cutting program will be a reduction in work force, a 10% pay cut for company executives, several facilities consolidations and plant shutdowns during the summer.
The reduction in force is effective May 3, and impacts employees at several Mattson locations. Approximately 15% of the company’s US employees will be affected by the work force reduction and facilities consolidation. Cost-reducing efforts will continue throughout Mattson’s global operations for the duration of the industry downturn.
According to Mattson Technology CEO Brad Mattson, “This downturn came about very quickly, leaving no equipment supplier immune. Instead of just cutting headcount, we decided to execute an overall cost-reduction program, which will help us strategically maintain our infrastructure to meet the demands of the inevitable industry upturn.”