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Toshiba lays off 12 percent of U.S. workforce

Posted: 15 Feb 2002 ?? ?Print Version ?Bookmark and Share

Keywords:toshiba america electronic components? dram? taec?

Blaming the continued weakness in the electronics industry, Toshiba America Electronic Components Inc. confirmed Wednesday that it has laid off 60 of its employees, or 12 percent of its workforce, working at various U.S. branches.

About half of the affected employees worked at the company's headquarters in Irvine, Calif. Employees were informed of the staff cuts Monday (Feb. 11), a TAEC spokeswoman said.

The layoffs were part of a reorganization affecting all departments within TAEC, and will result in a flatter and more flexible business operation, the spokeswoman said. The reorganization will not affect TAEC's product portfolio, she said.

The layoffs come after TAEC's parent, Tokyo-based Toshiba Corp., recently announced its fiscal third-quarter sales would fall 13 percent from the year before, resulting in an operating loss of $520 million. It expects to post an operating loss of $1 billion for the year ending March 31.

Last December, Toshiba said it would withdraw from the commodity DRAM business and sell its Dominion Semiconductor fab in Manassas, Virginia, to Micron Technology Inc.

? Anthony Cataldo

EE Times





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