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SMT & Inspection | October 28, 2005

LTX to close UK office

Due to the tough financial situation at LTX the company has decided to reduce its headcount by 77 employees. The company also decided to close its UK office.

Dennis Wassung, an analyst with Adams Harkness (Boston) said: “We believe the cost actions are likely a longer-term positive for LTX as it works to increase its profitability profile regardless of the timing of the industry business cycle”. LTX has according to Dennis Wassung major problems of getting the business profitable and the company is too much depending on a few customers. "TI is roughly half of LTX's business. They are dependent on what TI is spending”, said Wassung.
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