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That represents 30% to 40% of the company's U.S. employee base currently at 2,275 workers.
Hutchinson Technology has closed multiple plants and cut hundreds of jobs over the past two years as it lost customers during the recession.
The cuts will be made over the next year and will reduce costs by $45 to $60 million per year.
Hutchinson Technology Inc (NASDAQ:HTCH) said today it would cut between 680 and 900 jobs from its U.S. workforce.
Novellus Systems (NVLS) is up 11.34%, Applied Materials (AMAT) up 5.9%, KLA-Tencor (KLAC) up 6.29% and Nanometrics (NANO) up 30.11%
Semiconductor-equipment makers are gaining after Intel (INTC) said last night it would boost spending on plants and equipment this year.
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Shares of Zimmer (NYSE:ZMH) traded today at $81.92, breaking its 52-week high. This ne ...
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Shares of Zions Bancorporation (NASDAQ:ZION) traded today at $28.00, breaking its 52-we ...
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Shares of Crosstex Energy (NASDAQ:XTEX) traded at a new 52-week high today of $21.31. ...
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Shares of Xilinx (NASDAQ:XLNX) traded at a new 52-week high today of $39.88. So far to ...
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Weyerhaeuser (NYSE:WY) traded at a new 52-week high today of $33.24. This new high was ...
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Shares of Wolverine World Wide (NYSE:WWW) traded at a new 52-week high today of $53.97. ...
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Shares of Washington Real Estate Investment Trust (NYSE:WRE) traded at a new 52-week hi ...
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WPX Energy (NYSE:WPX) traded today at a new 52-week high of $21.10. So far today appro ...
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
