Cymer Cuts Jobs, Plans to Suspend Production
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Cymer Inc., the No.1 supplier of lasers to make semiconductors, fired 98 workers, or about 11% of its total staff, and will temporarily close factories later this year to reduce costs.
Demand for semiconductors has plummeted because consumers are buying fewer computers, mobile phones and other communications devices.
Chip-equipment sales will drop as much as 35% this year, the worst decline ever, said industry group Semiconductor Equipment and Materials International.
Cymer fell 70 cents to close at $20 on Nasdaq. The shares had fallen 20% this year.
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