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SMT & Inspection | February 22, 2007

Job cuts at Photon Dynamics

LCD panel production equipment maker Photon Dynamics announces job cuts.
Photon Dynamics announces cost-cutting plan including work force reductions by 90 employees. Photon Dynamics said Wednesday its board approved a cost-cutting plan designed to help the company achieve consistent profitability to better align its costs with its core business strategy and lower its break-even point.

The company said it expected to incur a charge of about $1 million during its fiscal second quarter, which ends March 31, related to the job cuts.

The announcement came a day after Photon Dynamics said it swung to a first-quarter loss on a nearly 50 percent drop in revenue.

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