FormFactor Hit By Another Layoff
written by Mark LaPedus, courtesy of EE Times SAN JOSE, Calif. — In its second layoff this year, FormFactor Inc. will reduce its global workforce by about 12 percent, with the reductions primarily coming from the company's North America operations. The probe-card company expects to incur $3.5-to-$4.5 million in charges related to the plan, which will be recorded in the second quarter of fiscal 2008. FormFactor (Livermore, Calif.) also revised its guidance for the first fiscal quarter, ended March 29. Based on a preliminary review, the company now expects first quarter revenue to be in the range of $65-to-$66 million, compared to its previous guidance of $70-to-$80 million. Its GAAP loss per share will be greater than its previous forecast of minus $0.15-to-$0.25 per share. ''The lower than expected revenue is due primarily to the deterioration of the DRAM market throughout the first quarter,'' according to FormFactor. Hit hard by a slowdown in ATE, FormFactor earlier this year announced a cost reduction plan that included reducing its global workforce by approximately 14 percent. |
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