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© ermess dreamstime.com Electronics Production | October 30, 2012

Orbotech may lay off 5 percent of workforce

Israel-based AOI-specialist Orbotech is reportedly planning to lay off up to 5 percent of its total workforce.
Orbotech presently employs some 1'700 people, around 600 of those in Israel. The company may now lay off 95 employees, spread over the different locations, according to Israeli newspaper Haaretz.

Orbotech explained to the newspapaer that the measures are taken as the demand is slackening in the target markets, namely that of flat panel display production.

Earlier this autumn, evertiq wrote that Orbotech also lowered its revenue guidance for 2012. For the full year, the company now expects revenues of USD 400 million, down from the previously announced range of USD 430 - 450 million.

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