PCB | October 12, 2004
DDi to axe 175
DDi Corp. has taken further steps to lower the cost structure of its manufacturing operations. The action by the company will result in a workforce reduction of up to 175 employees at DDi Corp.’s Milpitas manufacturing facility, partially offset by the expected addition of a small number of employees across DDi’s other facilities.
Chief Executive Officer Bruce McMaster stated, “As another step in the continuing effort to reduce our overall costs, we are transfering a portion of our customer orders from our Milpitas manufacturing facility to DDi facilities in Toronto and Virginia which have lower production costs. We are able to make this shift in work among our facilities due to our centralized work allocation system, which we have been developing over the past year. This system provides us with enhanced visibility into the work mix at our factories. Through this shift, we are aligning work - in this case standard lead time, medium technology orders – with the factories best suited for that work. We expect to complete the realignment within the next several days. Our Milpitas facility will continue to focus on its core competency - high technology, quickturn prototype fabrication.” The action by the company will result in a workforce reduction of up to 175 employees at DDi Corp.’s Milpitas manufacturing facility, partially offset by the expected addition of a small number of employees across DDi’s other facilities. The net headcount reduction comprises approximately 7% of DDi Corp.’s worldwide workforce. Following the restructuring, the Company, as a whole, will continue to employ more than 1,800 people. As a result of the workforce reduction, DDi Corp. expects a cash restructuring charge of approximately $1 million to be incurred in the fourth quarter of 2004 and to realize annualized cost savings of between $6 and $7 million. McMaster concluded, “In light of the economic realities of our business, we believe that this action was required to remain strong in a very competitive global marketplace.”
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