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07
June
2012

API Technologies cuts 10 percent of EMS workforce

API Technologies has have cut 40 positions as part of an effort to restructure its EMS product lines.
In the May 31, 2012 ending quarter, 40 positions, approximately 10% of its EMS workforce and 2% of API's global workforce, were affected.

Bel Lazar, President and Chief Operating Officer of API Technologies said the company hopes to a 20% adjusted EBITDA margin target with the restructure.

“Elements of the restructuring plan include management re-alignment, workforce reductions, and write-downs and charges related to inventory, fixed assets, and long term leases,” the company said in a press release.
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