Electronics Production | September 17, 2004
Solectron planning new round of lay offs
Solectron Corp. expects to lay off 500 employees in Europe and North America and to record restructuring charges of $20 million-25 million in its fiscal fourth quarter, according to Dow Jones, PCB007.com reports.
The restructuring actions are intended to consolidate the company's facilities additionally and to continue moving Solectron's operations to lower-cost regions, PCB007.com reports. Solectron also stated that it is projecting a loss of between $6 – $15 million for the fourth quarter ended August 31.
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