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Electronics Production | December 10, 2008

Avnet considers layoffs

Avnet said in an Reuters report, that it will implement cost-cutting measures to compensate for the current difficult economic environment. These measures - which will also include layoffs - are part of an ongoing process.
"Unfortunately layoffs have to be a part of it," Avnet's COO Rick Hamada, told Reuters in an interview. The number of people that will be affected by the layoffs is not yet clear. The distributor is monitoring the business activities of its customers carefully, but has so far not seen any dramatc decline in business. More decision would be made after the Q4/2008 results were known, the COO continued in the interview.

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