Job cuts at Photon Dynamics

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.